The "miniature continent" with two faces: the real city of Las Palmas with a year-round housing market, and the tourism south around Maspalomas. No ITP on resale, IGIC 6.5% instead of 10% IVA.
Yes — contrary to a common assumption, resale purchases in the Canary Islands do incur ITP, at a flat rate of 6.5 % (on the higher of purchase price and cadastral reference). Only on new builds does IVA fall away: instead of 10 % IVA you then pay IGIC 7 % plus AJD 0.75 %. That makes Gran Canaria one of Spain's cheapest regions for transfer tax. Certain buyer groups qualify for reduced rates; for the foreign second home the standard 6.5 % rate applies. On the island the market centres on Las Palmas and the tourist south (Playa del Inglés, Maspalomas); LPA airport ensures year-round access. Important for financing: the bank finances the purchase price, not the 6.5 % ITP and the other incidental costs — you cover those from equity. As of 07/2026.
Unlike the pure holiday islands, Gran Canaria has a real city: Las Palmas, with a university, port, the city beach Las Canteras and the old town of Vegueta/Triana. A year-round housing market and a growing remote-worker and digital-nomad scene — demand for long-term letting rather than a pure holiday season.
The tourism powerhouse around the Maspalomas dunes. Meloneras as an upmarket, newer resort address, Playa del Inglés as an established mass market. High occupancy, guaranteed sun, a classic holiday-letting market.
The south-west coast with sheltered bays (Amadores), the marina resort of Puerto Rico and picturesque Puerto de Mogán. The most sheltered and sunniest part of the island — popular with long-stay winter guests.
The Canaries = a special economic zone. On resale, ITP transfer tax does not apply; on new builds, 6.5% IGIC applies instead of 10% IVA. Versus mainland Spain, roughly 1–3.5% less on the purchase price.
Spanish banks finance in Gran Canaria as on the mainland: up to 70% loan-to-value for non-residents. CaixaBank, BBVA, Santander and Sabadell have a strong network in Las Palmas and the south.
Gran Canaria airport (LPA) sits centrally between Las Palmas and the south — short journeys to both markets. Year-round direct flights from all major German cities, around 4.5 hours' flight time.
Concrete example calculations for typical foreign buyers — as a guide for your own plan.
Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.
Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.
Prefilled with typical values for Gran Canaria — adjust and calculate.
Guide value without guarantee. Spain: max. 70%, Portugal: max. 80% loan-to-value for non-residents. Purchase costs = ITP/IMT + notary + land registry + lawyer + NIE/NIF. Total outlay = equity + purchase costs + all payments over the term. For a binding offer, contact us.
Model calculations without guarantee. Not binding offers. Terms vary depending on credit profile, property and bank. No tax or legal advice.
Tenerife, Gran Canaria, Lanzarote, Fuerteventura compared.
Go to page → Canaries · islandNorth–south split, two airports, the largest holiday market.
Go to page → RegionThe Balearic market and a comparison to the Canaries.
Go to page → RegionFinancing in the region.
Go to page →Planning a purchase on Gran Canaria? A free initial consultation in English — also German, French, Dutch, Spanish, Russian. I review your situation and find the right bank in Spain.
Anonymised examples of how buyers financed their property in Gran Canaria.