Lanzarote

Lanzarote is a volcanic island in the Canary Islands, known for its unique landscapes, striking black sand beaches, and innovative architecture by César Manrique.
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Property for Sale in Lanzarote: A Full Guide for Foreigners

Buying a home in Lanzarote is both exciting and rewarding at the same time. One of the Most unique islands within Spain’s Canary archipelago, Lanzarote combines its volcanic landscapes with year-round sunny weather in a relaxed lifestyle. This makes it perfect for the following:

Holiday Homes
A Long-Term Residence Application Through a Spanish Golden Visa
A Sound Investment 

Real estate in Lanzarote is generally stable against ups and downs in property prices on the island. The properties here are known for maintaining their long-term value, so property buyers in Lanzarote are assured of consistent price appreciation with time.

This guide will help you understand the property market and the taxes involved to find your dream home on this island paradise.

Find your dream Lanzarote property with an Upscore Spain Passport!

Why Invest in Lanzarote Property?

See why Lanzarote is such an enticing option:

Golden Visa Opportunity
Owning real estate in Lanzarote with a value of at least €500,000 carries along Spain’s Golden Visa. This entitles you to residence and the possibility to travel visa-free in Europe.
Year-Round Sunshine
The weather keeps Lanzarote at the top of mind for holidays and permanent residencies.
Low Cost of Living
Compared to the mainland and much of Europe, Lanzarote is pretty cheap, guaranteeing a quality life.
Tourist Attraction
From the transparent waters at Playa del Postiguet to the quaint marina and promenades, few cities have oceanfront appeal like Alicante.
Long-Term Appreciation
The real estate market of Lanzarote is resilient, continuously growing and reaching up – partly due to foreign buyers.
Global Connectivity
With excellent flight connections to the UK, Europe, and beyond, Lanzarote is a convenient and accessible choice for international property buyers.

Discover mortgage options for Lanzarote real estate with Upscore’s Finance Passport now!

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Can Foreigners Buy Property in Lanzarote?

Yes, all foreigners, including non-EU citizens, can purchase property in Lanzarote. Spain itself actively encourages international buyers with the Golden Visa program. This means that if a foreign national invests a minimum amount in the country – in this case, €500,000 in property – residency is granted in return. 

Buying property in Lanzarote is just as straightforward for Brits and non-Europeans, with no obstacles. You’ve got many options here in terms of property – from modern apartments in Arrecife to quaint villas near the beaches in Playa Blanca or Puerto del Carmen.

That said, some of these practical issues – such as opening a Spanish bank account or being able to finance through local lenders – may be more complicated.

The only other limitation is increased mortgage deposits by non-residents, but you can easily manage this with decent preparation and support.

Finding a House in Lanzarote

There are several reputable online real estate platforms and agencies that make finding property in Lanzarote so much easier. Properties range from super-luxurious beachfront houses to rustic interior village houses, so something for every taste and budget.

It’s recommended that you view properties in person for your expectations and check whether they fully comply with local legisland – be that quiet retreat in Haría or a buzzing home in Costa Teguise.

FAQs

Yes, Lanzarote has great investment potential because of its busy tourism industry, low property prices, and steady market growth. The island’s year-round attractiveness means there is a high demand for rentals, which makes it a dependable income source for investors.
Foreigners can get mortgages in Lanzarote, but normally, non-residents are required to pay more significant deposits. This can be around 30-40% of the real estate value. In addition, the banks can request confirmation of your income and a Spanish NIE for a foreign identification number.
When buying property in Lanzarote, expect to pay several taxes, including the property transfer tax (6-10% of the purchase price) and VAT (10% for new properties). Additional costs include notary fees, legal services, and annual property taxes (IBI). Non-residents may also owe a non-resident income tax.
No, residency is not required in Lanzarote for owning property. Non-residents can buy and manage property without any kind of restriction. Owning property valued above €500,000 will enable you to apply for a Spanish Golden Visa, which comes with residency and allows visa-free travels in Europe.
The best would include Playa Blanca, famous for beautiful villas and tranquil beaches; Puerto del Carmen has excellent nightlife and is located near centres of commerce and services; Costa Teguise is excellent for families because of field sports and schools. Nature lovers would also love Haria – this quiet resort nests in Lanzarote’s green north. Each has variants in advantages, depending on your lifestyle and the type of investment.

Speak with Our Lanzarote Experts

Have questions about investing in Lanzarote? Reach out to Upscore’s dedicated advisors for personalised support and expert advice!

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