Lanzarote Villas Buying For Investment

Lanzarote Villas Buying For Investment

Lanzarote Villas - Buying for Investment
Many people are buying property in​ Lanzarote purely as​ an​ investment, intending to​ rent out the property for as​ many weeks in​ the year as​ possible and also see good capital appreciation, as​ opposed to​ putting their money into pension schemes which have been performing very poorly .​
So how do you decide where and what properties are likely to​ give you the best return?
Lanzarote´s climate is​ such that year-round rentals can be achieved as​ winter temperatures average around 20/22C daytime average maximum, making it​ the warmest part of​ Europe in​ the winter .​
But this has an​ affect on property prices, making them quite high in​ comparison to​ resort areas in​ some other countries .​
However, the large number of​ new properties being built on the island, especially in​ Playa Blanca, is​ helping to​ stabilise prices.
So firstly of​ course, you have to​ decide on your budget .​
As in​ any resort area, the further away from the coast you buy, the more you´ll get for your money .​
However, the further away from the coast the property is, the harder it​ is​ to​ rent it​ out .​
Lanzarote has the advantage of​ being quite a​ small island so no matter where you are, you are never more than 20/25 mins drive to​ the coast .​
Realistically though, to​ achieve a​ high number of​ weeks rental, you need to​ buy in​ one of​ the 3 main resorts – Puerto del Carmen, Costa Teguise and Playa Blanca .​
Your budget will determine whether you can afford an​ apartment or​ a​ villa .​
Which ever one it​ is, a​ swimming pool is​ essential – in​ the case of​ a​ villa, a​ private one which is​ heated .​
So, your main criteria are ideally to​ be as​ centrally located as​ possible close to​ cafes, restaurants, bars and supermarkets so that holidaymakers don´t have to​ hire a​ car if​ they don´t want to, to​ be close to​ the beach, and to​ have a​ pool .​
If your budget is​ quite high though, there is​ a​ big market for those people who hire a​ car and want to​ stay in​ a​ quiet peaceful area a​ bit away from the resort centre .​
When you go to​ look at​ a​ property, take a​ few photographs of​ the outside and inside and have a​ look at​ them before you decide on a​ purchase .​
The photographs are what sell the property .​
If the property doesn´t take a​ good photograph, it​ is​ unlikely to​ do well for rental .​
To determine what rental income you are likely to​ achieve, have a​ look at​ similar properties in​ the area on rental listing sites and see what they are charging .​
If these sites have availability charts, this can give you some guide as​ to​ their success in​ attracting rentals.
Buy a​ villa in​ the right location, present it​ and market it​ correctly, and you can realistically achieve 30 to​ 40 weeks occupancy in​ your first year .​
Along with the capital appreciation, not a​ bad investment!

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