In the Canary Island of Lanzarote the biggest property buying and selling market place is Puerto del Carmen. Puerto del Carmen as a wide range of properties for sale in a equally wide range of prices.
In the current economic climate the most active section of this property market is occurring at the lower end of the price bracket. Most buyers are looking for an apartment for sale in Puerto del Carmen.
The prices of apartments for sale in Puerto del Carmen currently start at around the 65,000 euro mark or £52,000. For this you can buy a studio apartment on a complex with a pool in close proximity to the local beaches and amenities.
The average price of an apartment in Puerto del Carmen is currently 173,963 euros
Last year in 2007 the average price was 164,063
Two years ago in 2006 the average price was 162,520
(figure taken from freedom4sale.com)
This shows that although there is a slowing down of price increase at the moment prices have not fallen below previous years prices. Anecdotal evidence is saying that prices are better insulated as most properties are second homes or investment properties and the money tied up in the property is not so urgently needed therefore resale prices do not fluctuate so easily.