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Could the clouds finally be lifting on Lanzarote? After a year of successive double digit decreases in visitor numbers the rate of decline in tourist arrivals halved last month on this popular holiday island. According to the latest figures just released by the Spanish airport operators AENA, with the German market – Lanzarote´s second largest – even recording positive growth for the first time this year.
The latest passenger figures from AENA reveal that the number of foreign tourists arriving on flights to Lanzarote fell last month by ‘just 8.17%’ - a figure almost half that of previous months this year, suggesting that there may at last be signs of optimism for the many overseas owners of apartments and villas in Lanzarote.
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I ventured to Lords last week. I had always wanted to visit the ´Home of Cricket´ in St John´s Wood, North London and so when I received 2 tickets to watch the 1st Test between England and the West Indies I was thrilled.
Only problem – I had invited my good Spanish friend Dani from the Costa Blanca along for the spectacle. I should really have known better when he admitted to not knowing the rules, but wanting to take a look ´out of curiosity´ as he had heard so much about the sport. Predictably, I had the following questions to contend with:
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With all of these Spanish property bargains being advertised at the moment, it´s tempting to think that it´s easy to make money in this type of climate – i.e. pick up a cheap Spanish property, wait for the market to recover, and then sell at a profit.
But just remember one thing. With Spanish property purchase costs amounting to around 10%, and costs of sale (such as capital gains tax, legal fees and agents commission) to also consider, you realistically need to clear 15% before making any kind of profit whatsoever.
Food for thought before you get carried away.
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Now that I am mortgage-approved, have the balance of my funds nicely in place, and receive tens of bargain Spanish properties every day to my email address, I just want to buy something…….anything!…
…and that´s the danger. I must remember that this is my home, not an investment property in Spain. I plan to live in this place for many years, so I really need to get this right.
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