Major Facelift for Lanzarote´s Main Resort

Ever since tourism first took off back in the 1970´s Puerto del Carmen has been the engine room that has driven demand for property in Lanzarote. Transforming a tiny fishing village known locally as La Tiñosa into the biggest resort on the island.

And now Puerto del Carmen is undergoing a major redevelopment – as local authorities start to progress a multi million euro project that is designed to transform the resorts infrastructure and maintain its competitiveness versus other, newer holiday destinations. A move that is widely expected to impact positively upon the price of property in Puerto del Carmen in the medium term – despite the current economic turbulence.

Puerto del Carmen has long been a popular investment hot spot for British and Irish buyers. As witnessed by the proliferation of estate agencies in the resort. Thanks to its buoyant tourist industry – which generates year round rental returns for the owners of holiday apartments and villas. And it is also the main focal point of the British and Irish expatriate community – so generating additional demand for rental, relocation and commercial property too.

But in many ways Puerto del Carmen has been the victim of its own success. As the resort is now looking decidedly tired around the edges. And faces losing vital tourist business to newer, fresher destinations as a result. A scenario that the islands authorities are now addressing with an ambitious redevelopment project that is designed to “reinvent” tourism in Puerto del Carmen and maintain its popularity in the medium to long term.

One of the central struts of this plan is the transformation of the Old Town harbour area – currently home to a few old fishing boats and excursion vessels – into an upmarket marina with moorings for luxury yachts. An initiative that is deigned to attract more affluent tourists – whilst also cutting in on the success of the marina at nearby Puerto Calero, just a few miles along the coast. Which has exploded in popularity in recent years and is now home to a wealth of top end fashion outlets and expensive restaurants – as well as births for 400 plus luxury cruisers.

Another important element in the redevelopment strategy is the part pedestrianisation of Puerto del Carmen’s main beachfront strip – the Avenida de las Playas. Which currently provides precious little pavement space for visitors and is dominated by a kaleidoscope of neon lit bars and restaurants. An image now deemed outdated by many observers – a view shared by the local authorities who plan to harmonise these fascias and shop fronts to provide a more aesthetically pleasing overall image.

Construction of Puerto del Carmen’s golf course – only the second on the island – is now complete too. All factors that together suggest that tourism – and property prices – are likely to remain on an upward curve in the medium term despite the current short term economic turbulence.