Fancy snapping up a historic slice of the Lanzarote property market?  The Casa Palacio Ico, which is located right in the heart of the former island capital of Teguise, was constructed in the 17^th century.  And has just been reduced in price from a cool €1,950,000 to €1,390,000.

The Casa Palacio Ico is one of the most historic buildings on Lanzarote and is a marvellous example of traditional Canarian architecture.  Featuring key original features such as a beautiful courtyard and numerous balconies.

It was first built way back at the end of the 1600´s – at a time when a number of grand buildings were being constructed in the town – and takes its name from a member of the Guanche royal family who ruled the island before Lanzarote was conquer for the Spanish crown in the early 1400´s.

Since the 1980´s it has been lovingly restored by the Bucher family with the help of the well known Canarian architect and designer Luis Ibanez.  And is currently being used as a commercial and culinary centre.  Providing the owners with rental income from nine separate units.  Visit www.palacioico.com to find out more.