Playa Blanca property for Sale

With Easter over, and a strengthening pound, we are seeing a resurgence in enquiries for properties for sale in Lanzarote and in particular Playa Blanca. Certainly a lot more enquiries than this time last year. The local banks are still showing caution to mortgage seekers with the official line being a maximum lend of 70% to sale price. However, they still want the business, and with more foreign buyers (especially the British and Germans) house hunting again with confidence, there are mortgage deals to be found. The other key criteria for savvy investors is purchasing a property with a mortgage already in place. This usually means lower costs, and the bank keen to offload a potential liability onto somebody who is able to foot the monthly mortgage. With the number of enquiries and purchases steadily rising, this also means that there are fewer distressed sales out there, with prices beginning to stabilise. However, for those of you still hoping to snap up a bargain, relax, today´s prices are still on average 20% lower than 2 years ago and we are not expecting them to rise dramatically over the next 6 months. In the meantime, if you are considering buying a property in Playa Blanca or Lanzarote, contact Freedom Properties today.

View This Article 

Date Published: 03-05-2010