Investors covert ‘quiet’ fuerteventura

Fuerteventura is becoming increasingly popular with Spain investors, claims Kyero.com…

Exotic Fuerteventura, the second biggest Canary Island and closest to Africa, has overtaken Ibiza and Mallorca in property buyers’ popularity, reports Spanish property portal, Kyero.

The website says the largest island, Tenerife, generated most property enquiries for the Canaries Islands with Fuerteventura, with its Caribbean-style beaches, second. Both had more inquiries than traditionally popular Ibiza and Mallorca. This may have been helped by the fact average property prices were substantially lower on the Canary Islands compared to the Balearics, €207,000 and €451,000 respectively in 2007.

Fuerteventura is a quiet island with property prices averaging at €250,000, two per cent above the national average, and Ryanair flying direct from most UK regional airports, owning a second property here remains affordable.

The volcanic landscape of Lanzarote attracted 15 per cent of visitor enquires from Kyero.com. Handling some 5.6 million passengers in 2007, Lanzarote airport has seen considerable growth in recent years. Despite the increase in tourism to the island, average property prices are 27 per cent above the national average at €312,000.