Buying a property in Lanzarote (It’s different!)

Mike covers buying a property in Lanzarote - finance, budgeting for costs, making a list, do you need an agent? What about a lawyer? What happens at the notary? Each step, clearly explained, with many useful tips.
#lanzarote

[@Ironman5631]

Many thanks for this VERY informative video Mike. We've long dreamed of moving to Lanzarote, and even though Brexit would appear to have sadly scuppered that dream it's still interesting to learn how the process works over there. Keep up the good work.

[@MrWesternDuke]

Very interesting and food for thought!

[@MandyandAandy]

Finally someone has explained the whole process in detail but in easy to understand terms. Thank you very much indeed 👍

[@LanzaroteInformation]

Glad it was helpful!

[@mackenziebrookepark2888]

Thank you for your full explanation. We have brought & sold properties in Costa Teguise and now have our forever home. It is really important to speak with & discuss your particular requirements with an estate agent - who will work with you to view the most appropriate properties for your budget & requirements. We personally have purchased a structurally solid property that needs everything done after being a rental. It's definitely worth it to get what you want & takes time to get it the way you want it. A work in progress but worth every euro.

[@LanzaroteInformation]

Enjoy the work you’re doing to it, and take lots of photos!

[@Fly2walesCoUkwales]

Very useful Mike, thank you for this.

[@watchthis7620]

Great video Mike. Interesting comment about Spanish owners not usually taking anything less than the asking price - not sure "A Place in the Sun" has ever covered / mentioned that fact. 🙄🙄🙄

[@TGS..107]

Perfect thank you

[@michaeloconnor4983]

This information gave a great insight into the whole process very informative and helpful, thanks for your input and guidance

[@markmoore8331]

We bought an apartment in PDC in April 22. We remortgaged our house in the UK and paid cash. We rent it out on AirBnB through a management company The most difficult thing we found was opening a bank account. Had it 2 years now and wouldn't be without it. Friends family use it more than Airbnb BnB Estate agent was Alex from Lanzarote investments. Used Atlantic Money for our money transactions. The apartment was up for €135000 and paid €127500 Our solicitor was Mario from Lanzarote Lawyers

[@LanzaroteInformation]

Excellent! We know Alex and Mario, but I hadn’t heard of Atlantic Money before, but they look like a good set up. Enjoy your place here!

[@TeresaMangan-rq1oe]

Thank U Mike for video as always U say it very well explained very good 👍

[@stevenbamber6060]

Thanks Mike that was very helpful 👍👍

[@patcmx]

Many thanks Mike, a most interesting video. We live in Ireland and bought our apartment on a complex in PDC over 2 years ago, we don’t rent our apartment but there are properties on the complex with the VV sign, so, remembering your previous video saying there would be a moratorium on new rental licenses in the future should we apply for one just in case we ever changed our mind or wanted to sell the apartment as this could help future value, your non binding thoughts would be appreciated, Patrick

[@LanzaroteInformation]

We had the same conversation, as we have a place in Puerto del Carmen, which is long let. We decided not to apply for a licence, because my view is that when the new rules come into play, the first properties to lose the licence will be ones that aren’t actually being holiday let. But note, this is only our view, and nothing has been said to verify it so far.

[@nicnak4475]

90 day rule kills buying a property there for me Mike, I wouldn't rent either after my partners experiences of renting in mainland Spain, plus it was constantly being broken into.

[@LanzaroteInformation]

Sure, if you’re not from an EU country, you’re limited to 90 days in a rolling 180, and if that doesn’t work for you, then no point in buying here.