Buying a home in Lanzarote is both exciting and rewarding at the same time. One of the most unique places within Spain’s Canary Islands, Lanzarote combines its volcanic landscapes with year-round sunny weather in a relaxed lifestyle.
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 makes it perfect for all kinds of property owners and investors, whether you want a holiday home or a long-term permanent residence. Buy property in Lanzarote today with our Finance Passport!
Our Finance Passport is your ticket to living in Lanzarote.
See why Lanzarote is such an enticing option:
Long-Term Property Value: The real estate market of Lanzarote is resilient, continuously growing due to continued popularity and investments from foreign buyers.
Low Cost of Living: Compared to the mainland and much of Europe, Lanzarote is pretty cheap, guaranteeing a high quality of life.
Rent Out Your Property: Lanzarote is so popular that you can easily rent out your home to holidaymakers and get a constant source of revenue.
Year-Round Sunshine: The weather in Lanzarote is sunny and warm all year round ー ideal for both holidays and permanent residences.
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 you invest a minimum of €500,000 in property, the country will grant you residency.
While you can get a mortgage in Lanzarote, you’ll need to pay larger deposits of around 30-40% of the real estate value. In addition, banks and lenders can request confirmation of your income and a Spanish NIE or a foreign identification number.
And 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).
Start by identifying the area of the island you want to live in. The best places to live in Lanzarote are Playa Blanca (famous for beautiful villas and tranquil beaches, Puerto del Carmen (excellent nightlife and links), Costa Teguise (great for families), and Haría (a quiet resort full of greenery and nature).
Properties in these areas range from super-luxurious beachfront houses to rustic interior village houses, so something for every taste and budget.
Once you’ve identified an area, budget, property type, and other needs, you can use Upscore to access local estate agents in Lanzarote. They’ll find you your ideal home using their local knowledge and skills.
Our Finance Passport is a godsend when navigating the Lanzarote property market. We’ll help you find your dream home quickly. Apply today.
