Lanzarote Relocation

Posts Tagged ‘credit crunch’

Recent events around the world have all worked together to affect the travel industry. For an Island such as Lanzarote, which is heavily reliant on tourism… this is now very apparent. No – the Island is not dead, despite what “doom and gloomers” would have you believe, but it certainly is going through a testing time. Businesses are battening down the hatches, and taking measures to ensure that they survive the difficult times. So for new people wanting to move to Lanzarote – is it s good idea? Or a bad one?

For those people trying to sell their property back in Ireland or the UK, this isn’t the easiest time. With banks being a lot stricter about lending… less people are buying. So although a family’s personal circumstances may be perfect for making the move… that house sale could be holding them back.

Ok… but what if the property is already sold, and the money’s in the bank waiting? Well… if that money is in pounds, then right now is a horrendous time to get it changed into euros.

But worry not. For house buyers in Lanzarote who have the cash ready, there are many many bargains to be snapped up. Many people are keen to sell for their own reasons, and haggling is achieving new dreams for many potential buyers that would have struggled a year or so ago.

Moving on to employment. Ok – so if you think you’re going to move over with your family of four… and just “get by” with a bit of bar work, and cleaning – then think again. This is a tourist destination remember? So if there are less tourists coming, then there are less jobs in the tourist industry. Most companies on the Island will not consider employing someone until they are actually living on the Island… and many more won’t employ until the person can provide references and experience of Island life too. It’s not personal, it’s just what employers have learned through valuable experience.

However, all is not lost. There are still new people relocating to Lanzarote all the time – who have the know how, gumption, and desire to make a proper living. You’re not likely to make your millions here… but a comfortable living is very achieveable. Starting your own business can be a good way of achieving this. But make sure you do your research and if buying a business, make sure you are given all the support, paperwork, and legal advice to allow you to make an informed decision. Don’t snap up the first “bargain” you see. If the business is selling… then why? Ask as many questions as you can… and make sure you remove those rose tinted glasses. Do your research if you are starting up a business of your own. Make sure there is a market for you. And ask lots of people for their advice and help – don’t just rely on one or two… as opinions can often be skewed.

If you do your research, plan carefully, bring enough money to live on for a few months in case you can’t find work immediately… and come over with your eyes wide open – then the rewards are immense. We should know!

So think carefully about your impending move… and we’ll see you when you get here!

- Three quarters (74%) of first time buyers (FTBs) are shelving plans to buy property in the UK due to the current financial climate
- Nearly half (44%) of FTBs plan to buy abroad instead
- Spain and France are the top choices, followed closely by the USA and Australia

Three quarters of FTBs are abandoning their plans to buy property in the UK due to market instability, with nearly half putting their hopes in property abroad. Read the rest of this entry »