Lanzarote property

The European recession has been tough on the Lanzarote property market. Many estate agents have been forced to close and Zapatero (The Spanish prime minister) is not predicting a rise in the general Spanish economy until April 2010.

Lanzarote has a better climate than mainland Spain, appealing to a different sector of the buying public. Property pundits are predicting a faster recovery to the property market coming as a direct reflection to the recovery of UK property prices. House prices are now at rock bottom and cash rich investors are taking full advantage. A much larger level of activity than normal is now being found in the higher priced end of the market. The higher value properties have taken the biggest drop in price and therefore can represent better investments.