The market for property for sale in Lanzarote is driven by tourism. And despite the current credit crunch and economic downturn visitor numbers to this small speck of Spain – which lies just 70 miles off the coast of Africa – have actually increased by around 8% during the first half of 2008.
As a result of this buoyant tourist market (over 1 million British and Irish visitors visited during 2007 alone) property on the island remains an attractive proposition for overseas investors. Not least as owners of holiday rental properties can enjoy year round rental returns thanks to the island’s incredibly clement climate. With temperatures never dropping below 20C even in the depths of winter.
So where are the current hot spots for investors on the Island of Fire?
Puerto del Carmen
Puerto del Carmen is the spot where tourism really took of on Lanzarote. And this former fishing village is still the islands most popular resort today – thanks in no small part to a 6km stretch of golden sands which acts as a magnet for tourists.
Puerto del Carmen was developed in the 1970´s – with the bulk of building stock given over to apartments and apart hotels, rather than hotels and villas.
The resort is currently undergoing something of a renaissance as the local authorities are planning to improve the infrastructure and overall tourist experience by pedestrianising the entire sea front. A long awaited new golf course is also set to open just outside Puerto del Carmen this summer – which is expected to attract more moneyed tourists to the resort.
Property prices here still remain well below the average for other Spanish sunspots – with basic one bedroom holiday apartments, ideal for rental – available from as little as €80,000. Owners can expect rental returns in the region of €300 per week.
Playa Blanca
Playa Blanca is Lanzarote´s newest resort – and was developed along very different lines to Puerto del Carmen. With luxury hotels and villas at the forefront of the planning mix.
Despite the fact that Playa Blanca only started to evolve apace during the 1990´s it is already well established as the islands second most popular resort. Due to the fact that it enjoys the best micro-climate on Lanzarote thanks to its location at the southern tip of the island. And also boasts the best beaches – namely the six beautiful coves at Papagayo.
Construction and development here has grown apace over the last decade and as a result property prices have remained below the norm for the rest of the island. With investors able to pick up two bedroom villas with private swimming pools from as little as €250,000. Rental returns are equally attractive – with even the most basic holiday villa with pool commanding a weekly rate of €550 plus.
Puerto Calero
Puerto Calero is Lanzarote´s upmarket marina resort. And is an exclusive residential enclave – boasting some of the islands most impressive properties.
The marina was developed under the aegis of Pepe Calero back in the 1980´s and today is firmly established as one of the most attractive harbours in the Canaries. Attracting a multitude of millionaires and their yachts.
Property here is certainly at the high end of the market. As there is a limited supply of luxury villas available – with very few coming onto the market. Those that do command prices of €750,000 upwards – and show no sign of depreciation even under current market conditions.
Browse more Lanzarote property by visiting Lanzarote Guidebook – which features a selection of over 2300 properties for sale across the island
Tuesday, July 08, 2008
Santa Barbara Real Estate
Santa Barbara City in the state of California is the county seat of the Santa Barbara County in the United States.
Santa Barbara lies approximately 100 miles from the city of Los Angeles in the state of California. Various parks make up Santa Barbara, including Alameda Park, Alice Keck Park Memorial Gardes, West Beach, Andree Clark Bird Refuge and Parma Park, just to name a few. One can also appreciate other open spaces, such as the Santa Barbara Botanic Garden, the Painted Cave National Historic Landmark and Rattlesnake Canyon.
Santa Barbara is actually a popular destination for tourists all over the world. Its attractive Mediterranean weather and the wonderful beaches along the Pacific coast make it a favorite spot among beach lovers. There are numerous destinations that one can visit while in Santa Barbara City. The Mission Santa Barbara is a much loved area for the religious individuals visiting the city. Other places to visit include the Santa Barbara County Courthouse and the Presidio of Santa Barbara. Other places to visit in the city of Santa Barbara include Stearns Wharf, Moreton Bay Fig, Burton Mound, El Paseo Shopping Mall and Carillo Adobe, just to name a few of them.
Santa Barbara has quite an artistic community, and museums can be found dotted all over the place. These include the Santa Barbara Museum of Art, the Santa Barbara Museum of Natural History, the Santa Barbara Maritime Museum, and the Contemporary Arts Forum. There are also art locations in the University Art Museum, which is located on the University of California Santa Barbara campus.
International events that tend to attract millions of tourists yearly also occur in the city of Santa Barbara. Among these is the yearly Fiesta, also known as the Old Spanish Days, which includes a procession of women called Las Senoritas and Flower Girls. Another event is the Santa Barbara Arts and Crafts Show, where artists and craftsmen from all over the county of Santa Barbara display their various works. The Summer Solstice Parade, where costumes and floats parade throughout the city of Santa Barbara, is also a favorite attraction.
The real estate in Santa Barbara City and County is still buzzing, amidst the continuing afford ability crisis going on throughout the state of California. Recently, a new real estate policy was approved by the Santa Barbara County. The new policy states that 1.5% of the plan assets must be invested in real estate. For those looking for commercial areas in Santa Barbara, State Street is a good place to start. Other places to consider in the city of Santa Barbara include Paseo Nuevo, Highway 101 and De La Guerra Street.
Santa Barbara is not only a place enjoyed by tourists. Many people working in Los Angeles are finding the comfort and quiet of a beach destination to their liking, making them choose to live in Santa Barbara and commute to their workplace instead. Combined with the relatively cheaper real estate, Santa Barbara becomes a very attractive place, not only for the rich, but more so for the typical middle-class American.
Santa Barbara lies approximately 100 miles from the city of Los Angeles in the state of California. Various parks make up Santa Barbara, including Alameda Park, Alice Keck Park Memorial Gardes, West Beach, Andree Clark Bird Refuge and Parma Park, just to name a few. One can also appreciate other open spaces, such as the Santa Barbara Botanic Garden, the Painted Cave National Historic Landmark and Rattlesnake Canyon.
Santa Barbara is actually a popular destination for tourists all over the world. Its attractive Mediterranean weather and the wonderful beaches along the Pacific coast make it a favorite spot among beach lovers. There are numerous destinations that one can visit while in Santa Barbara City. The Mission Santa Barbara is a much loved area for the religious individuals visiting the city. Other places to visit include the Santa Barbara County Courthouse and the Presidio of Santa Barbara. Other places to visit in the city of Santa Barbara include Stearns Wharf, Moreton Bay Fig, Burton Mound, El Paseo Shopping Mall and Carillo Adobe, just to name a few of them.
Santa Barbara has quite an artistic community, and museums can be found dotted all over the place. These include the Santa Barbara Museum of Art, the Santa Barbara Museum of Natural History, the Santa Barbara Maritime Museum, and the Contemporary Arts Forum. There are also art locations in the University Art Museum, which is located on the University of California Santa Barbara campus.
International events that tend to attract millions of tourists yearly also occur in the city of Santa Barbara. Among these is the yearly Fiesta, also known as the Old Spanish Days, which includes a procession of women called Las Senoritas and Flower Girls. Another event is the Santa Barbara Arts and Crafts Show, where artists and craftsmen from all over the county of Santa Barbara display their various works. The Summer Solstice Parade, where costumes and floats parade throughout the city of Santa Barbara, is also a favorite attraction.
The real estate in Santa Barbara City and County is still buzzing, amidst the continuing afford ability crisis going on throughout the state of California. Recently, a new real estate policy was approved by the Santa Barbara County. The new policy states that 1.5% of the plan assets must be invested in real estate. For those looking for commercial areas in Santa Barbara, State Street is a good place to start. Other places to consider in the city of Santa Barbara include Paseo Nuevo, Highway 101 and De La Guerra Street.
Santa Barbara is not only a place enjoyed by tourists. Many people working in Los Angeles are finding the comfort and quiet of a beach destination to their liking, making them choose to live in Santa Barbara and commute to their workplace instead. Combined with the relatively cheaper real estate, Santa Barbara becomes a very attractive place, not only for the rich, but more so for the typical middle-class American.
Tuesday, June 24, 2008
Lanzarote Property Prices Soften As Mortgage Approvals Fall
The eastern most Canary Island of Lanzarote has long been a favourite with property investors from the UK and Ireland. Thanks to a year round clement climate that attracts millions of foreign tourists every year. Providing a steady twelve month stream of rental income for owners of holiday homes on the island.
But now all that looks to set to change – as new figures just released by Spain´s National Institute of Statiscs reveal that mortgage approvals in the province of Las Palmas - of which Lanzarote is part – fell by nearly 36% during the first quarter of 2008. As the international credit and mortgage crisis starts to bite into the hitherto healthy market for property for sale in Lanzarote .
The NIS figures show that new mortgage approvals fell from 14,456 during the first three months of 2007 to 9333 in the same period this year. Despite the fact that the island’s tourist market has in fact enjoyed a buoyant start to 2008 – with total foreign visitors numbers up by 8.7%.
This fall in new approvals can be attributed to a number of factors – such as the weakening of sterling against the euro, declining disposable incomes and falling consumer confidence in the UK and the tightening of credit criteria by local banks. Who play a key role, as the vast majority of British investors opt to take out mortgages locally in order to take advantage of the cheaper credit available in the euro zone.
Local banks have also been imposing more realistic valuations on vendors. Many of whom are now having to market their property at prices someway below their original expectations as potential buyers become scarcer.
As a result of this combination of factors property prices are now starting to soften. With all of the island’s leading estate agents reporting a sharp increase in the quantity of price discounted property coming onto the market.
Some observers suggest that this adjustment is in fact long overdue – as the island has witnessed annual consecutive price growth of around 9% across the last five years. Whilst others believe that property on Lanzarote is still under priced in relation to other Spanish holiday hotspots.
Either way – it is clear Lanzarote is now becoming a buyers market. With discounts of up to €90,000 now visible on estate agents websites for luxury villas and up to €30,000 on apartments in the main holiday resorts.
Nick Ball, editor of leading Lanzarote property portal Lanzarote Guidebook reinforces this view: “There is still a decent level of demand out there – but buyers have become more cautious and are leveraging the current economic position to secure discounts wherever possible. As a result – vendors are now being forced to accept offers way below the levels of even six months ago if they are serious about securing a sale.”
lanzaroteguidebook property-for-sale
lanzaroteguidebook
But now all that looks to set to change – as new figures just released by Spain´s National Institute of Statiscs reveal that mortgage approvals in the province of Las Palmas - of which Lanzarote is part – fell by nearly 36% during the first quarter of 2008. As the international credit and mortgage crisis starts to bite into the hitherto healthy market for property for sale in Lanzarote .
The NIS figures show that new mortgage approvals fell from 14,456 during the first three months of 2007 to 9333 in the same period this year. Despite the fact that the island’s tourist market has in fact enjoyed a buoyant start to 2008 – with total foreign visitors numbers up by 8.7%.
This fall in new approvals can be attributed to a number of factors – such as the weakening of sterling against the euro, declining disposable incomes and falling consumer confidence in the UK and the tightening of credit criteria by local banks. Who play a key role, as the vast majority of British investors opt to take out mortgages locally in order to take advantage of the cheaper credit available in the euro zone.
Local banks have also been imposing more realistic valuations on vendors. Many of whom are now having to market their property at prices someway below their original expectations as potential buyers become scarcer.
As a result of this combination of factors property prices are now starting to soften. With all of the island’s leading estate agents reporting a sharp increase in the quantity of price discounted property coming onto the market.
Some observers suggest that this adjustment is in fact long overdue – as the island has witnessed annual consecutive price growth of around 9% across the last five years. Whilst others believe that property on Lanzarote is still under priced in relation to other Spanish holiday hotspots.
Either way – it is clear Lanzarote is now becoming a buyers market. With discounts of up to €90,000 now visible on estate agents websites for luxury villas and up to €30,000 on apartments in the main holiday resorts.
Nick Ball, editor of leading Lanzarote property portal Lanzarote Guidebook reinforces this view: “There is still a decent level of demand out there – but buyers have become more cautious and are leveraging the current economic position to secure discounts wherever possible. As a result – vendors are now being forced to accept offers way below the levels of even six months ago if they are serious about securing a sale.”
lanzaroteguidebook property-for-sale
lanzaroteguidebook
Monday, June 16, 2008
Riverside County Real Estate
Riverside County in California, part of the Greater Los Angeles area and the Inland Empire of Southern California, is a desert county. Spanning more than 7,000 square miles of land, it is composed of some of the most popular cities in the United States, including Palm Springs, Beaumont, Canyon Lake and Indio. It is also home to several Indian reservations, including the Cabazon and Cahuilla bands of Mission Indians, the Santa Rosa Indian Reservation, and the Agua Caliente Tribal Council, to name a few.
Situated in the county is the popular Joshua Tree National Park. The Riverside Municipal Museum can also be found in the area, where the history and culture of Native Americans are displayed. Other famous spots include the Heritage House, the Mission Inn Hotel and the California Citrus State Historic Park. Every April, Riverside County attracts numerous people the world over for the annual Sunkist Orange Bloom Festival.
Riverside County boasts of a complete set of amenities, including a number of airports, universities, hospitals and sports venues.
Riverside County is easily accessible, with approximately 15 airports all over the county, including the Palm Springs International Airport. This fact is also a reason for the growing population in the county, and supports the real estate industry in the area.
There are several universities and colleges serving Riverside County. The University of California Riverside is home to the famous Botanical Gardens and the Museum of Photography. Other universities include Riverside Community College, Palo Verde College and California School for the Deaf.
Keeping the residents of Riverside County healthy are the almost 20 General Acute Care Hospitals in the area. Most of these provide basic care in case of emergencies.
Riverside County is also a world-famous sports location. Various golf resorts are dotted across the county, including Palm Springs, La Quinta, Palm Desert and Indian Wells.
In recent times, there has been a surge in the real estate market in Riverside County. This is because of the continually increasing rates of real estate in nearby areas, such as Los Angeles and San Diego. More and more of the workforce in Los Angeles are moving to the less expensive Riverside County, and opting to commute to their workplaces instead.
At the same time, there is also an ongoing economic growth in the Riverside County. The labor force is expected to continue growing for the next few years, requiring even more workers and increasing employment rates. Real estate, specifically in commercial properties, in Riverside County appears to be a good investment at present. Commercial developments in the area and the presence of affordable housing and land are key factors in the healthy real estate industry in Riverside county.
The Palm Springs area, specifically, is experiencing a real estate boom. The attractive location and the affordability of the real estate in the area are the primary reasons for the continued growth of the real estate industry.
If you’re searching for an affordable yet interesting place to invest in, look into Riverside County Real Estate!
Situated in the county is the popular Joshua Tree National Park. The Riverside Municipal Museum can also be found in the area, where the history and culture of Native Americans are displayed. Other famous spots include the Heritage House, the Mission Inn Hotel and the California Citrus State Historic Park. Every April, Riverside County attracts numerous people the world over for the annual Sunkist Orange Bloom Festival.
Riverside County boasts of a complete set of amenities, including a number of airports, universities, hospitals and sports venues.
Riverside County is easily accessible, with approximately 15 airports all over the county, including the Palm Springs International Airport. This fact is also a reason for the growing population in the county, and supports the real estate industry in the area.
There are several universities and colleges serving Riverside County. The University of California Riverside is home to the famous Botanical Gardens and the Museum of Photography. Other universities include Riverside Community College, Palo Verde College and California School for the Deaf.
Keeping the residents of Riverside County healthy are the almost 20 General Acute Care Hospitals in the area. Most of these provide basic care in case of emergencies.
Riverside County is also a world-famous sports location. Various golf resorts are dotted across the county, including Palm Springs, La Quinta, Palm Desert and Indian Wells.
In recent times, there has been a surge in the real estate market in Riverside County. This is because of the continually increasing rates of real estate in nearby areas, such as Los Angeles and San Diego. More and more of the workforce in Los Angeles are moving to the less expensive Riverside County, and opting to commute to their workplaces instead.
At the same time, there is also an ongoing economic growth in the Riverside County. The labor force is expected to continue growing for the next few years, requiring even more workers and increasing employment rates. Real estate, specifically in commercial properties, in Riverside County appears to be a good investment at present. Commercial developments in the area and the presence of affordable housing and land are key factors in the healthy real estate industry in Riverside county.
The Palm Springs area, specifically, is experiencing a real estate boom. The attractive location and the affordability of the real estate in the area are the primary reasons for the continued growth of the real estate industry.
If you’re searching for an affordable yet interesting place to invest in, look into Riverside County Real Estate!
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