Lanzarote Sale Transactions have rocketed in comparison to 2016's figures. Want to find out more? Click here!
The purchase and sale of houses on the island of Lanzarote has increased considerably compared to 2016.
Those who have purchased a property on the island are mainly tourists, opting for resorts like Costa Teguise, one of the most popular resorts in recent years and Arrecife. The changes to mortgage laws have made it easier for clients to buy their own home.
Banks have also helped make this possible by opening the doors for these types of purchases.
The increase in rental prices has led many tourists and residents to opt for purchasing properties.
Currently, buying a three bed apartment in Costa Teguise is around 160,000 euros, while in the capital of Lanzarote, in front of the Reducto beach, the cost would be 130,000 euros. The price depends on the number of bedrooms and, above all, its location.
Based on figures up to July, some 2,500 property purchases and sale transactions were recorded, almost 500 more than in May 2016.