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HOT PROPERTY Puerto Del Carmen Prices Up 7%

Wednesday November 29, 2017

HOT PROPERTY Puerto Del Carmen Prices Up 7%

Which area of Lanzarote is the hottest spot for overseas property investors? According to TINSA (Spain´s leading property evaluator) prices have risen more rapidly in the largest resort of Puerto del Carmen than anywhere else on the island – up by 7.2% during the course of this year alone. Whilst occupancy levels within the resort´s hotels and apartment complexes were also the highest in the whole of Spain last month – suggesting excellent returns for holiday rental owners too.

TINSA´s assessment will come as little surpise to anyone who has been keeping a eye on prices within the resort – as over the last two years the entry level for a one bed apartment has steadily climbed to around the €100,000 mark.

Prices have been risen in tandem with increased arrivals from across Europe, most notably the UK, Germany and Eire. As more and more visitors seek to invest in retirement, relocation or rental properties within the resort.

Capital appreciation in Puerto del Carmen has totally outpaced the other main resorts on the island – with prices in Costa Teguise rising by just 2.6% over the same period. Whilst also outperforming the island wide average price growth of just 0.1%. A figure that has been pushed downwards by large price drops in other areas, such as Arrecife, where TINSA suggest prices have fallen by over 6% since the start of 2017.

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