# Lanzarote property market



## BOD (Oct 8, 2013)

hi my wife and i have been considering moving to playa blanca Lanzarote, we are busy looking at propertys there, i am not sure if the the property market has hit the bottom yet or not, would be grateful for any advice, thank's


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## Tel Boy (Jul 1, 2014)

Im no expert, but from looking at the Spanish property market for the last 4 years I would say yes it has. Im sure the islands ie: canaries/ Balearics command a higher price, they are highly sort after, all the best.


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## Chopera (Apr 22, 2013)

Please see my post here:

http://www.expatforum.com/expats/sp...ving-spain/493225-relocation.html#post4612033

"On an island with only 140,000 inhabitants there are over 800 illegal buildings (many funded by EU money) and over 200 people charged with corruption. Estate Agents were shown to be openly marketing properties they knew to be illegal."


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## Tel Boy (Jul 1, 2014)

What about the mainland.


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## 90199 (Mar 21, 2010)

I'm at the other end of the archipelago, so cannot really comment about Lanzarote, the market here is dead sales/purchases are almost none existent. There are illegal builds, not so many now though because quite a few have been demolished or made legal.


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## Chopera (Apr 22, 2013)

Tel Boy said:


> What about the mainland.


On the Spanish TV program I linked to the gave the impression Lanzarote was the worst offender of all Spain. I can't really say for the mainland - it varies a lot between regions.


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## snikpoh (Nov 19, 2007)

I was once told (by a Spanish surveyor) that 90% of the properties in the Valencian countryside were illegal in one way or another.


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## BOD (Oct 8, 2013)

thank you


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## castaway06 (Jul 25, 2014)

Lanzarote was a bubble is its own right because they supposedly have stricter building controls than the other islands. I know that in 2006/2007 property prices there was increasing at a rate on about 18% a year. Because we were looking to buy at that time. The side effect was some big developments especially in and around playa blanca that while legal were the result of "appropriate financial persuasions" 

Anyway the bubble burst and lanzarote fell harder than most around here, my personal opinionis that the market is probably close to the bottom now but the best that will happen is prices will stabalise. Dont expect to make a profit on property there in the medium term.


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## Pazcat (Mar 24, 2010)

snikpoh said:


> I was once told (by a Spanish surveyor) that 90% of the properties in the Valencian countryside were illegal in one way or another.


I think that's a conservative estimate, at least based on our experience. And not just countryside either.

Certainly agents gladly peddle them and will lie about them, clearly enough people mustn't do their homework for them to think the property will sell.
Banks sell them too.

It's like banging your head on a brick wall sometimes, I think we have found one house completely legal and to be honest we are resigned to the fact that when we do choose a house it will have some element not declared. Whether or not the seller will cooperate before the sale is anyone's guess.


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## BOD (Oct 8, 2013)

Thank's for that


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## 90199 (Mar 21, 2010)

BOD said:


> Thank's for that



Good luck with your move, look to the south west and give us a wave sometime


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## BOD (Oct 8, 2013)

Will do


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