Buoyant Tourism Aids Lanzarote Property Market

Despite speculation that the credit crunch could spell the end for holidays abroad British tourists are still flocking to the Canary Island of Lanzarote in ever increasing numbers. According to figures just released by the Spanish airport authority AENA – who have registered an increase in visitor numbers from the UK of 15.6% for the first half of 2008. An upsurge that is helping to generate a buoyant level of demand for property in Lanzarote – despite the current international economic situation.

Lanzarote has long been a hot favorite with British holiday makers and property investors alike. Located just seventy miles off the coast of Saharan Africa the island enjoys a clement year round climate with temperatures that rarely fall below 20C. Creating a twelve month rental calendar for the owners of holiday apartment and villa properties.

For a small island Lanzarote deals in pretty big tourist numbers – attracting over one million British and Irish visitors alone annually. Figures that look set to increase further in 2008 – as AENA´s statistics reveal that British visitor numbers to the island have already broken the half a million barrier during the first six months of this year. With 509,755 tourists from the UK enjoying a holiday on the island – up 15.6% on the first half of 2007.

Irish tourist numbers have also increased. Up 5.9% across the same period – with 123,047 visitors from Eire spending their week in the sun on Lanzarote. So cementing the islands position as the most popular destination in all of Spain with Irish tourists.

Total foreign tourism has increased 4.9% during the first half of 2008. With significant increases also recorded in the Dutch, Swiss, Norwegian and Swedish markets. Whilst tourism from the Spanish mainland has also increased – up 3.7% in the first six months of the year.

All of which makes happy reading for the owners of apartments and holiday villas in Lanzarote. With many private owners and island based holiday companies reporting a significant upsurge in bookings – and forward numbers also looking bright into the autumn and winter months.

This buoyant tourist market is helping to shore up the islands property market – as local fundamentals remain strong despite the international picture. Although prices have certainly softened in recent months – as local banks impose tighter lending criteria and more realistic valuations on lenders.

But there have been no market wide price falls as is currently the case in the UK and elsewhere – and demand for property on the island remains relatively strong.

Currently apartments in the main resorts are priced from €70,000 upwards. Whilst villas with pools are available from €250,000 upwards. Making it relatively affordable to invest in a holiday rental property. Returns are enticing too – as apartments rent out from €300 a week with villas commanding a return
of €650 plus.

San Francisco Real Estate

One of the most famous destinations in the United States remains to be San Francisco City in California. Found on the west coast, San Francisco’s territory includes a number of must-see islands, including Treasure Island and Alcatraz. San Francisco is home to over 50 hills, including Pacific Heights, Nob Hill and Twin Peaks. The climate of San Francisco is a mixture of the Mediterranean climate of California and the Pacific Ocean’s cool breeze and fog.

A world-famous tourist attraction, San Francisco boasts of a seemingly unlimited number of tourist destinations. The city is divided into a variety of famous districts, including the Mission District, Marina District and the Financial District, with its famous Union Square. Other popular tourist spots include the Golden Gate Park and the Golden Gate Bridge, Fisherman’s Wharf, Alamo Square, Moscone Center, The Palace of Fine Arts, Coit Tower, Lincoln Park, and the original Chinatown, to name a few. The most twisted street in America, known as Lombard Street, can be found in San Francisco. The Island of Alcatraz, the former island prison, may be reached via ferry and cruises. The San Francisco Zoo will surely be enjoyed by people of all ages. Cable cars are also widely popular the world over.

The Financial District in San Francisco is the primary financial center in the entire west coast of the United States. Various companies have their headquarters there, including Wells Fargo and the Bank of America.

Various universities cater to residents of San Francisco. These include the San Francisco State University and the City College of San Francisco. The University of California San Francisco (UCSF) is another San Francisco university. It is one of the top employers in the city, focusing on jobs in the biomedical and health sectors. The university is affiliated with the UCSF Medical Center, one of the top hospitals in the country. Aside from these, San Francisco also has schools directed towards enhancing various arts, such as the San Francisco Art Institute, the San Francisco Conservatory of Music and the California Culinary Academy.

As one of the most densely populated cities and the 4th most populous city in the united States, San Francisco is home to huge numbers of immigrants from all over the world. Approximately 40% of San Francisco residents were born in other countries. The massive number of immigrants has supported the real estate market in San Francisco, with various neighborhoods made up of both residential and office spaces for new entries.

The Internet revolution in the early 1990s led to a rush in the real estate market in San Francisco. The value of properties continued to increase, peaking in the year 2005. Since then, there has been a gradual decline in the value of real estate in the area. With the decreasing prices of real estate and the continuing availability of jobs in the area, more so in the biotechnology and research areas, it is expected that the real estate market will experience a surge in the next few years.