Buying a House in Lanzarote – A Guide

Buying a House in Lanzarote – What You Need to Know

Lanzarote has long been a favourite destination for British property buyers and expats. Whether you are looking for a holiday home, a retirement retreat, or a permanent move abroad, the island offers an attractive property market combined with a high quality of life in the sun.

1. Why Buy a House in Lanzarote?

• Year-round warm climate, averaging 18–28°C.

• High quality of life, with beautiful beaches and unique volcanic landscapes.

• Competitive property prices compared to the UK market.

• Strong rental demand thanks to tourism and expat communities.

2. Types of Properties Available

Lanzarote’s property market offers something for every taste and budget:

• Luxury villas with pools and sea views,

• Townhouses and bungalows in quiet residential complexes,

• Modern apartments near the beach,

• Traditional fincas in rural settings.

Popular areas for British buyers include Playa Blanca, Puerto del Carmen, Costa Teguise and the authentic villages in the north.

3. The Property Purchase Process

Buying in Lanzarote is straightforward but requires the right preparation:

1. Apply for an NIE number (foreign tax ID).

2. Hire a lawyer or gestor to check legal documents.

3. Sign a reservation or deposit contract (typically 10%).

4. Complete the purchase before a notary, followed by land registry entry.

Tip: Always verify the property’s title deeds, debts, and planning permissions before committing.

4. Purchase Costs & Fees

On top of the purchase price, buyers should budget around 8–10% in additional costs:

• Property transfer tax (ITP) or VAT (IGIC for new builds),

• Notary and land registry fees,

• Legal fees,

• Agency commission (where applicable).

5. Living in Lanzarote as a British Expat

Thousands of British nationals have already made Lanzarote their second home. Benefits include:

• Reliable healthcare, schools and local services,

• Regular flights to UK airports year-round,

• A welcoming British expat community,

• A relaxed island lifestyle in a safe environment.

Conclusion

Buying a house in Lanzarote is both an exciting lifestyle decision and a sound investment. With professional guidance and careful planning, British buyers and expats can find their dream home on this sunny Canary Island.

At OptimaEstate, we have been supporting international real estate buyers and sellers for over 20 years – before, during, and after the purchase process.