Real estate spain

Real Estate
One of the best spanish investment properties is the real estate market. With limited real estate available in the Canary Islands, it can make financial sense to invest in land and develop it. However caution needs to be taken as not all land has building permission and, in Lanzarote, building regulations are strict. Generally plots fall into one of three categories:

• If the plot is situated in an already classified zone then the Technical Office in each Town Hall (Ayuntamiento) can define exactly what can be built, for what use, height of building, boundaries between properties and roadside boundaries.
• If the plot is situated in a semi-rustic zone then the permission and building project has to be approved in the "Politica Territorial" in Las Palmas. This can take between 6 –12 months. Plus the building licences have to be approved by the Technical Department in each relevant Town Hall.
• If an area is classified as 'rustic' then it is not normally possible to construct for residential use.