Lanzarote
Higher Priced Spanish Property in Low Demand on Lanzarote
Tightening global credit conditions and waning consumer confidence are starting to make an impact on the Lanzarote property market according to figures recently released by one of the island’s leading property portals, namely Lanzarote Guidebook.
An analysis of enquiries relating to 636 properties for sale generated during the first two months of 2008 revealed that demand for properties priced above the EUR 300,000 mark had all but disappeared, whilst more modestly priced apartment and studio properties - especially those below EUR 150,000 - were still attracting a large amount of interest from overseas investors. All this suggests that buyers are now concentrating on lower risk and lower cost property options – therefore it’s fair to say that higher priced Spanish property is currently in low demand on Lanzarote.