It was reported by the Government of Lanzarote this week that the cost of rental homes across the island is still a problem for local residents looking for their own home. The main problems are highlighted as high rental costs and poor supply of rental properties.
The problem, in the opinion of some real estate experts, is that it is not possible to build new properties on many areas of Lanzarote, so that the supply of rental homes is practically the same, but demand from local residents for new homes has grown over recent years, which has contributed to very high rental costs.
Clearly, solutions need to be found to meeting the needs of local residents for fair costs of rental homes in Lanzarote in the near future.
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