Lanzarote 'seeing market hold up'

Lanzarote's property market is faring better than most of Spain, it has been noted.

In a feature on the prospects of living on the island, the Daily Telegraph revealed that according to official statistics, prices have only dipped by four per cent in the past year.

This compares with 12 per cent across Spain as a whole.

As well as being more stable price-wise, the island could also be more appealing, as its architectural blueprint adopted when mass tourism arrived in the 1960s involved no tall buildings and painting all new structures white.

Another factor that could bolster the island is that budget airlines such as Ryanair, Monarch and Jet2 are increasing their flights to Lanzarote while cutting back elsewhere, the paper noted.

Last week, Martin Dell of Kyero.com said that Spanish property now offers some good investments as there is a real prospect that the bottom of the market is close.

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