10+1 Reasons to buy Real Estate in Fuerteventura
Fuerteventura, and especially the northern part of the island, became very attractive for potential buyers. Being a unique destination, its climate, the people, the beaches, the youth, the surf…, make many buyers consider this luxury island located close to the european continent, as a safe, profitable and very interesting destination.
Buying/investing (in) a property is based on two basic principles, trust and price, and both are positively fulfilled in Fuerteventura.
We have asked clients and friends of LAJARES LAW OFFICES to tell us their reasons for buying property in Fuerteventura, and this is what they have told us.
1- Fuerteventura offers properties at interesting prices
Compared to the rest of Europe and Spain, in Fuerteventura you can buy properties for a lower price and in a more idyllic environment. The previous economic crisis made many properties come on the market at very interesting prices and this possibility covers all types of properties, apartments, houses, villas, duplexes, plots, commercial spaces,….
2- A variety of different nationalities
One of the things which makes Fuerteventura so interesting is that it is a destination where many nationalities coexist in an integrated way. It is possible to receive and participate in these cultures and to become perfectly integrated in the “Majorero” local society.
3- Optimal connectivity to any European country
The island is easily accessible with many flight connections from any point in Europe, which allows direct flights without major complications at very reasonable prices. This means that those who buy a property do not have to make complex and long travel routes to get to the island.
4- Fuerteventura, profitable properties
Listing prices and the possibilities of exploiting properties, make investing in property on Fuerteventura very profitable. Whether for holiday rentals, second homes or as a destination for digital nomads, Fuerteventura reinvents itself and offers business options very much in line with nowadays reality, reaching profitability ratios much higher than any other destination.
In the near future, which we all hope, normality will return and after the pandemic situation of Covid-19 tourism might even grow, which will double the profitability.
5- Cheap mortgages and interest rates for non residents
The interest rate is considered low in the European zone and therefore, the possibility of obtaining a mortgage loan allows access to higher value properties at a very reasonable cost. And there are interesting offers for non-residents.
6- A safe and cheap environment
Fuerteventura is a very safe environment in social, legal and economic terms, being within the European Union, its rules are applied with the same firmness as in the rest of Europe, giving legal certainty to the buyer to defend their interests.
The existence of public notaries, property registries, lawyers, real estate agencies, translators, financial entities, land registries, courts and other public administrations offer easy access to legal and juridical resources so that the investment made is guaranteed. Other destinations outside the European Union cannot say the same.
The cost of living and the tax system make it a very cheap destination compared to other destinations in Europe, which invites to consider the option of residing, temporarily or permanently on the island of Fuerteventura, as a very interesting option.
7- Space, the greatest luxury
The island offers a luxury that is practically impossible to obtain in the rest of Europe: space. The island is environmentally protected in more than 70% of its territory, lacks large crowds of people and buildings as in other similar destinations and you can enjoy a wide space that invites tranquility and enjoys a unique environment. It is possible to be practically alone on a beach in Fuerteventura in August.
Many clients have discovered that the way of life and where you live is a very important part of their lives. Social changes come to promote a different way of relating to the place where you live or rest, seeking to prioritize the space outside the big cities, in a search for a way to relate to their environment in a more sustainable way.
The pandemic situation of Covid-19 has not brought anything good to our lives, although it has made us think about looking for other values in our lives. The pandemic situation on the island has been reduced compared to other places in Europe, which has caused many to look to this island where we have been able to spend this time in a more acceptable way, without so many restrictions on mobility.
9- Scarcity of new promotions and new land to be developed
The insular and municipal planning, as well as the Canary Islands land legislation, are very restrictive with the classification of new land for new urban developments, which on the one hand improves the environment and landscape and on the other hand, reduces the available supply which raises prices. The absence of new promotions or large developments will continue for many years. We all like to live in a very exclusive environment away from large agglomerations.
10- The climate, the surf and the sea
Fuerteventura has a mild climate all year, with sunlight during almost all the days of the year. Neither cold nor hot, and above all a permanent sunshine 365 days a year. The average temperature is between 20-26 degrees all year round.
Probably more than surfing activities, it is the Ocean that manages to hypnotize those who come and visit us or those who are lucky enough to live here. The color of the sea has such an attractive force that it is impossible not to notice its permanent presence. A walk on the beach or watching the sea from any corner of the island brings pleasure you never get tired of.
11- Love and Law
Many people seem to have fallen in love with the island and even fell in love on the island. We all let good memories influence the decisions we make in our lives, and when that crush arises after a first visit to the island, many have decided that this was one of the main reasons for buying a property in Fuerteventura.
This is what our clients and friends LAJARES LAW OFFICES told us.
We Law Fuerteventura. We Law you.