Retirees Chose Lanzarote For Year Round Living

View PDF | Print View
by: Osborne
Total views: 8
Word Count: 730
Date: Wed, 12 Oct 2011 Time: 9:46 AM
0 comments

Travel agents reported last month that the number of early bookings for a winter sunshine break on the popular holiday island of Lanzarote has risen sharply this year, while another suggests that the number of people moving there full time is also on the rise.

The report was compiled by a UK pensions company, and they are able to gauge moving abroad and where to from changes of address for the pensions they pay out, with the retirees opting often for their pensions to be paid locally into a Spanish bank.

Taking countries as a whole rather than regions such as the Canary Islands which includes Lanzarote, their data shows that Spain is the number one destination for people moving abroad who have retired - thanks in part to the good Lanzarote weather year round.

Also popular, but not as popular as Spain and the Canary Islands, are English language countries such as Australia, Canada and the U.S. Some of this can be put down to the good climate in Australia's case (and for Florida in the U.S.) but a lot of the appeal is for those who have children who have moved from the UK, and they want to be close to them and possibly grandchildren too.

There are mixed blessings for UK pensioners who decide to retire to Spain in the current economic climate.

To their advantage is the modern historically low cost of buying a property. There are a record number of empty properties in Spain and her islands, estimates vary between 700,000 and 1,000,000, and it's not unknown for some owners to accept near to half of their original asking price, especially if their villa or house has been on the market for a year or two and they want to return home for personal reasons.

Good advice is to draw up a shortlist of three, perhaps four houses or apartments they feel they could move into, and make offers, and see which owner is most likely to negotiate. Suddenly a villa with a pool south facing to make the most of the Lanzarote weather and sunshine becomes possible for many who though their budget might only go to an apartment.

Further advice is to protect yourself when buying. For anyone buying a property in Spain for the first time they might not know whether the house, villa or apartment is even built in an area where it's allowed to be built. And just as many if not more first time Spanish property buyers are aware that any debts, such as to the local government, get passed to the new owner - the house has the debt and the current occupants, and unscrupulous sellers have been known not to declare money owed. There are at least two law firms in the UK who specialise in Spanish property. John Howell & Co, and Cornish & Co, both of whom have many years of experience and a good reputation.

The disadvantage for those considering moving to the island at the moment is that Sterling doesn't buy many Euros, and it's really a case of getting a good deal on a property that makes it financially worthwhile for many considering retirement there.

And there is another factor that might stop people buying a property at the moment - Lanzarote uses the Euro, and with the future of the Euro in doubt if Spain were to revert to the Peseta no-one knows at the moment how the new value would work out against Sterling - the likelihood is that Spain would position her currency low in value to help incoming tourism numbers, so there would be a pleasant surprise for anyone who had bought - but nothing is certain and uncertainty could hold people back from making an investment in real estate on the island.

The most popular areas for retirees are ones where there is a good infrastructure in place and an established expat community - with the most popular areas being Playa Blanca and the Costa Teguise.

There's always some uncertainities in planning a financially secure future - what is certain though is that if you move to Lanzarote the weather's going to be good for most of the time!

About the Author

More information and articles about Lanzarote are available at www.tribuneweather.com

information and articles