Apartments for sale in Fuerteventura

Several factors influence real estate prices in Fuerteventura, primarily driven by its location, tourism appeal, and economic conditions. For instance, properties in popular tourist areas like Corralejo and Caleta de Fuste can command prices ranging from €2,000 to €3,500 per square meter, while more remote locations often see values closer to €1,200 to €1,800 per square meter. The local economy, heavily reliant on tourism, affects demand; in peak seasons, property rentals can achieve yields of around 10-15%, increasing interest from investors. Additionally, property type plays a significant role; luxury villas with ocean views typically priced above €500,000, significantly outperform less desirable units, which may linger on the market for longer periods. Infrastructure development, such as upgrades to the airport and new roads, further impacts accessibility and desirability, often resulting in price surges in areas undergoing revitalization. Exchange rate fluctuations also influence foreign investment, particularly from the UK, as changes in the pound euro exchange rate can either incentivize or deter purchases.

Over the last few years, real estate prices in Fuerteventura have seen significant fluctuations. As of 2023, the average price per square meter for residential properties was around €1,800, which represents an increase of approximately 15% compared to 2020 when prices hovered around €1,570 per square meter. Specifically, properties in popular areas such as Corralejo and Caleta de Fuste have outpaced this average, reaching up to €2,200 per square meter in desirable locations. The demand for vacation rentals has also driven prices up; for instance, a one-bedroom apartment that could be found for €100,000 in 2020 is now listed at closer to €130,000. Additionally, new developments and an influx of foreign investors have exerted upward pressure on the market, particularly in coastal areas. In contrast, some rural properties have experienced slower growth, maintaining prices around €1,200 per square meter, reflecting a more stable demand.

Fuerteventura has seen a steady increase in real estate investment interest, particularly due to its attractive climate and tourism potential. Property prices in Fuerteventura have risen by approximately 6% annually over the past few years, with the average cost per square meter hovering around €1,500 in popular areas like Corralejo and Caleta de Fuste. These locations have experienced significant demand, fueled by both international buyers and expatriates seeking vacation homes. The rental market is also robust; for instance, short-term rentals can yield annual returns of around 8% to 10%, driven by the influx of tourists—approximately 2.5 million visitors each year contribute to this growth. In addition, the Canary Islands' favorable tax conditions, such as reduced property taxes, can enhance the appeal for investors looking at long-term development or buy-to-let opportunities. Specific developments, like new resorts or luxury complexes, are attracting further interest, indicating a shift towards premium offerings in the market.

The average price per square meter for property in Fuerteventura varies depending on the location and type of property. As of 2023, the prices range from approximately €1,000 to €2,500 per square meter. In urban areas like Puerto del Rosario, the average sits around €1,200 to €1,500 per square meter, while coastal towns such as Corralejo can see prices between €1,800 and €2,200 per square meter due to their appeal for tourists and expatriates. In more rural areas, the cost may drop to around €900 to €1,100 per square meter. For example, a 100-square-meter apartment in Corralejo could cost between €180,000 and €220,000, whereas a similar sized property in a less popular area might be priced at around €90,000 to €110,000.

Property prices in Fuerteventura tend to be significantly higher near the coast compared to inland areas, reflecting the demand for beachfront living and holiday rentals. For instance, in popular coastal towns like Corralejo and Costa Calma, the average property price can reach around €2,500 to €3,500 per square meter, especially for well-located apartments or villas with sea views. In contrast, properties located further inland, such as in Villaverde or La Oliva, can be found for around €1,200 to €1,800 per square meter. Additionally, developments close to the beach, like those in El Cotillo, show listings that can exceed €400,000 for a three-bedroom villa, while similar properties a few kilometers inland might list for about €250,000 to €300,000. These variations illustrate the premium on coastal property in Fuerteventura due to factors such as tourism and seasonal rental potential.

In Fuerteventura, a variety of properties can be found, predominantly comprising residential villas, apartments, and bungalows. The prices for a two-bedroom apartment in popular areas such as Corralejo typically range from €120,000 to €200,000, while three-bedroom villas in coastal locations can go from €250,000 to upwards of €500,000, depending on proximity to the beach and amenities. For example, a recently built three-bedroom villa with a pool in Caleta de Fuste can be listed around €350,000. Additionally, bungalows often appeal to retirees, with prices starting from around €150,000 for modest units. Overall, properties near the shoreline generally command higher prices, with some luxury listings exceeding €1 million, while inland properties are often more affordable, starting around €80,000 for smaller units.

Property prices in Fuerteventura are generally lower compared to some of the other Canary Islands. As of late 2023, the average cost of a property in Fuerteventura is around €1,500 per square meter, making it one of the more affordable options in the archipelago. For instance, in Tenerife, property prices hover around €2,200 per square meter, while Gran Canaria averages approximately €2,000 per square meter. The town of Corralejo in Fuerteventura offers two-bedroom apartments, priced between €120,000 and €180,000, whereas similar properties in popular areas of Lanzarote can range from €150,000 to €250,000. Additionally, the rural areas of Fuerteventura tend to feature even lower prices, with some properties available for under €100,000, contrasting sharply with the more developed coastal regions of other islands where prices can significantly exceed those figures.