Major Facelift For Lanzarote´s Main Resort

Lanzarote´s grand dame of tourism is about to undergo a facelift.  As big plans are afoot to transform the island’s main resort of Puerto del Carmen into a stylish, upmarket holiday destination.  Replete with a new luxury marina and golf course. A project that is likely to have a positive impact on the price of property in Puerto del Carmen and the surrounding environs in the medium to long term.

Formerly a small fishing village called La Tiñosa, Puerto del Carmen has long been the engine room of both the Lanzarote property market and the islands tourist industry.  Thanks to a year round clement climate that attracts both tourists and overseas investors in droves.

The resort has also long been the hub of British and Irish expatriate life on the island. And is home to the bulk of the 6,000 plus officially registered residents from Eire and the UK that have made Lanzarote their permanent home.  So creating demand for relocation, long term rental and commercial property in addition to those seeking to invest in holiday rental property.

But over the last few years the resort has started to look in need of an MOT and oil change. As the effects of over thirty years as a popular package holiday destination have taken their toll on both facilities and infrastructure.  Raising the fear that Puerto del Carmen could start losing vital tourist trade to newer, fresher competitors around the world.

Nowhere has this deterioration been more apparent than on Puerto del Carmen´s main beachfront strip – the Avenida del las Playas.  Where pedestrians come a poor second to cars and have to fight for pavement space with each other.  Set against a garish backdrop of neon lit bars and restaurants.  Creating an outdated and some would say downmarket image  – in what is meant to be the main shop window for tourism not just in the resort but on the island as a whole.

In order to maintain Puerto del Carmen’s competitiveness as a desirable holiday destination island authorities have pressed the button on a multi million euro project to “reinvent” tourism in the resort.  Encompassing a number of initiatives such as the part pedestrainisation of the Avenida de las Playas and the harmonisation of shop fronts and fascias.  In order to create a more aesthetically pleasing tourist offering.

But the main plank of the project remains the plan to transform the Old Town harbour area (currently home to a few fishing boats and excursion vessels) into an upmarket marina.  With moorings for luxury cruisers and yachts.  A move that is designed to attract a more affluent type of tourist to the area.  Whilst also providing competition for the hugely successful marina at nearby Puerto Calero, just a few miles down the coastline.  Where property prices command a serious premium.

 Along with the opening of a new golf course (still only the second on the island) on the edge of town this year these moves seem likely to sustain both tourist numbers and property prices in Puerto del Carmen over the medium term.  Regardless of the current condition of property markets worldwide.