Puerto del Carmen becomes more profitable
The improvement of the tourist destination not only translates into an increase in the arrival of travellers and investors but also has a positive impact on the revaluation of the area and its buildings. The largest real estate appraisal firm in Spain, Tinsa, has just published a report analysing the housing situation along the Spanish coast and highlighting the excellent quality of Puerto del Carmen.
In its report “Housing on the Spanish Coast in 2017” (“Vivienda en la Costa España 2017”) Tinsa reflects that Puerto del Carmen is registering the greatest revaluation of all the tourist areas in Lanzarote. Specifically, the company places the percentage of these increases in the municipality of Tías at 7.2%, compared to 0.1% on average in the island during the last year, while in the capital Arrecife there is – according to Tinsa – a decrease of -6.4%. In Teguise, a municipality with a residential area closely linked to its main tourist area, the revaluation of its properties reaches only 2.6%.
The Tinsa report, which analyses the real estate operations carried out in the period of 2016/2017, even reveals that the municipality of Tías leads the island of Lanzarote with the largest volume of housing sales, with 599 in 2015 and 559 in 2016 .
The Deputy Mayor and Urban Development Councillor of the Tías Town Council, Saray Rodríguez Arrocha, stressed that the plans for modernisation and renovation for the competitiveness of Puerto del Carmen are contributing to the relaunch of the main tourist area of Lanzarote, now 50 years old, and classified as a mature destination in the Canary Islands. For Saray Rodríguez this new report reflects that the modernisation revalues Tías and Lanzarote, and is promoting the desire of new residents to acquire properties in Puerto del Carmen and Tías.
Data provided by the public company Gesplan, responsible for the development of tourism and planning in the Canarian Archipelago, has recently revealed that Tías is leading the Canary Islands’ plans of the modernisation of tourist destinations. This has been reported by the Tías government group (PP and CC) in a recent meeting with the Lanzarote media.
The most revalued city of Lanzarote
According to the report of the assessor Tinsa, Tías has achieved an average revaluation of housing properties of 7.2% in 2017. In the first quarter of this year, the average price of the square meter built was 2.033€ compared to 1.897€ in 2016. The average in Lanzarote in 2017 was 1.362€, compared to 1.361€ in the first quarter of 2016.
The Tinsa report reflects that the beachfront of Puerto del Carmen is the most quoted area of Lanzarote, with an average of 3.500€/m2 for a 20-year-old 40/70 m² apartment.
100 million investment
For his part, the Deputy Mayor and Councillor of Tourism, Amado Jesus Vizcaíno, stressed that the recent data on the valuation of property in the tourist areas of Lanzarote is a good reflection of the major public and private investment being carried out in Puerto del Carmen, where more than 100 million euros are being invested in the construction and refurbishment of hotels, and the improvement of public spaces and new endowments, by the City of Tías and other administrations.