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Key selling points
- Low deposit payment terms
- Average 10% compounded property growth for past 10 years
- Thriving rental market
- Tight development laws in place restricting over development
- Close proximity to 18 hole established Golf Course
- Close to sandy beaches at Costa Teguise
General description Teguise Greens Development
The Teguise Greens development is situated between the superb 18 hole Teguise Golf Course and the Costa Teguise coast line and covers a total of 1.6 million m² of land.
The resort will be constructed in different phases and includes a wide choice of properties to suit all budgets from one to three bedroom apartments, two bedroom to four bedroom townhouses, as well as individual plots and luxury detached villas of varying sizes adjacent to the golf course. Individual developments within the overall Teguise project will be released as the building licences are approved and the project currently available is Los Roques/El Risco as detailed below.
General description of Los Roques/El Risco
Los Roques and El Risco resort will be made up of 64 townhouses of 3 bedroom and 2 bathrooms. Each property will have a spacious terrace, solarium, inside patio accessed from the living room and dining room, and private parking.
The homes will be installed with an innovative digital home computer appliance system (DOMOTICS) in addition to fully fitted kitchens, with granite worktops, and fitted wardrobes in the bedrooms. The plot sizes vary so some of the gardens are large enough to install a private swimming pool if desired.
The resort originally should have had a children’s play area included as shown in the site plan, but we have persuaded the developer to now include a large communal pool instead. This is without affecting the prices and will greatly improve the rental appeal of these properties.
Development location
Los Roques and El Risco resort will be within easy walking distance to the new shopping centre and within easy reach of the Costa Teguise beaches, and all the amenities that they offer, and the established sub tropical Costa Teguise Golf course.
Prices
Los Roques from €180,100 to €239,000 plus 5% IGIC (property sales tax)
El Risco from €185,900 to €252,700 plus IGIC (property tax)
Building Specification and Video Presentations
If you would like any additional information please ask and we will send this to you by return.
Investment Features
- Low deposit payment terms – just 10% payable now, 5% in 6 months time and a further 5% payable in a year. The 80% balance is covered by a pre arranged mortgage
- Average 10% compounded property growth for the last 10 years (Source: La Bolsa)
- Thriving rental market with a staggering 1479.737 foreign visitors in 2004 (Source: Government of Canary Islands)
- Tight development laws in place restricting over development of the island
- A golfer’s paradise having close proximity to the established 18 hole Teguise Golf Course also owned by the developer
- Main town of Arrecife within a 10 minute drive away, with the airport a 20 minute drive away
- Close proximity to the beach with comprehensive facilities
- Three new quality hotels within the resort development
- Sports centre complex within the development with a gym, tennis, football and more
- Established water world attraction adjacent to the project
- Climate offers an average all year round temperature of 21°C
- Investment potential, our opinion
Why Lanzarote?
In a recent European survey Lanzarote was judged to have been the best holiday property investment over the past 10 years in the whole of Europe.
Being a small island, the amount of land able to be built upon is very limited (90% of all land in Lanzarote is protected and can not be built on). This short supply combined with a demand that is fuelled by the attributes mentioned below make the Island a great place for not only investing but also purchasing a home in the sun, whether it be for part-time or fulltime residence.
A combination of a fabulous climate, proximity to all major European Airports, a modern infrastructure, EU membership, a buoyant tourist economy, an open banking system and a finite amount of land have provided the vehicle for great property returns over the last ten years. The Island has seen average annual capital appreciation of over 10% for the past ten years.
The all year sunshine and hence tourist season has provided and excellent background for both rental returns and for those seeking to buy either a holiday home or permanent residence.
Having full EU membership has encouraged many residents from other EU states to relocate to Lanzarote and make it their permanent home. Such moves have further increased the demand for property over recent years and created good fundamentals for future apreciación.
In addition these properties are priced significantly below market value.
To summarise, demand will continue to outstrip supply, the entry prices are amongst the lowest in Spain and the deposit / payment structure allows for maximum growth on invested capital.
Financial example - schedule of payments
Reservation fee payable €3,000 - Followed by a 10% deposit + 5% IGIC payable within 30 days of reservation. A further two 5% payments are payable 6 months and 12 months after reservation, these are also subject to 5% IGIC.
Anticipated rental income
For similar 3 bedroom, 2 bathroom properties with communal pool and gardens in Lanzarote
High season 700 Euros p/w
Mid Season 550 Euros p/w
Low season 400 Euros p/w
Airport
Arrecife airport is located between the town of Arrecife and the tourist resort of Puerto del Carmen. Located just a 20 minute drive away from this development.
Nearest beach
Costa Teguise has beautiful sandy beaches within easy reach and offers all the usual amenities such as bars, cafes, restaurants, nightlife. As well as the main beach “Las Cucharas” there are also several smaller coves within easy reach. See our video report on the beaches at Costa Teguise for more information.
Also easily accessible are the fishing villages of Arrieta and Orzola where there are restaurants for you to sample the catch of the day!
Golf course
Teguise Greens is situated at the foot of the old volcano and is currently the only golf course on the island. The golf course has been purchased by the developer to complement the project and extensive plans have already been approved to develop and expand the facilities.
The golf course at Costa Teguise is an extremely well established golf course constructed in 1978 by John Harris. It is a 72 par course and fairways range in length from 4938 metres to 6041 metres at their longest. The course is suitable for more advanced players as well as those that are more modest.
Special arrangements are going to be available for all property purchasers and will include heavily discounted green fees for all home owners as well as their guests or rental clients. In addition some sort of voucher scheme will be provided to buyers for free instruction or green fees.
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