Purchase taxes
Property purchase taxes and costs in Canary Islands
What buying costs beyond the price in Canary Islands.
Reliefs and reduced rates
These are not applied to the figure above: they depend on circumstances that must be evidenced.
- Reduced rate of 5% instead of 6.5%, if it will be your main home, the value does not exceed €200,000 and you own no other home. BOE
- Reduced rate of 1% for large families, if it will be their main home, joint income does not exceed €46,455 (plus €18,200 per additional child) and they own no other home. BOE
- Reduced rate of 1% if you or a dependant have a disability of 65% or more, it will be your main home and joint income does not exceed €46,455. BOE
- 20% relief on the tax due at the 5% rate, if you are 40 or under, it is your first main home, you have never owned property and income does not exceed €46,455. BOE
€
You need€120,925
Resale · Canary Islands
Property transfer tax€21,125
Notary, registry and paperwork€2,300
Down payment€97,500
You need€120,925
Notary, registry and paperwork are indicative ranges, not fixed fees.
No purchase tax changes because you are a non-resident. What changes is the future sale and the non-resident income tax withholding.
Legislation applied: Source 1
No two purchases are the same. A specialist reviews your case and tells you where you stand before you commit to anything.
Where we work in this region
If you already know where you want to buy, these pages cover each area's market rather than its taxes.