If you’re planning to buy an apartment in Gran Canaria, it’s important to understand all the costs involved—not just the price you see on the listing. Many buyers are surprised by extra fees, taxes, and other expenses that come up during the buying process.
At Lux Building SL, we help you understand exactly what to expect when buying your property in Gran Canaria for sale so you can plan your budget with confidence.
🏷️ 1. Property Price – What You Pay for the Home
This is the price shown on the listing. For example:
- Apartments for sale in Puerto Rico Gran Canaria can start from €130,000
- Flats for sale Gran Canaria range from €100,000 to €250,000 depending on the area
But this is only the start—other fees can add 10–15% more to the total cost.
📜 2. Property Transfer Tax (ITP) – 6.5%
If you’re buying a resale property, you’ll need to pay a 6.5% tax on the purchase price.
For example, if your apartment costs €150,000, you’ll pay €9,750 in tax.
If you’re buying a new-build property, you pay:
- 7% VAT (IGIC)
- 1% Stamp Duty (AJD)
💼 3. Notary and Land Registry Fees – €800 to €1,200
These are legal costs required to:
- Sign the deed of sale at the notary
- Register your new property at the Land Registry
Fees depend on the property value and complexity of the sale.
🧑⚖️ 4. Legal Fees – Around 1% of Property Value
A local solicitor or gestor helps with contracts, legal checks, and making sure everything is correct. This is very important if you don’t speak Spanish or are buying from abroad.
At Lux Building SL, we can recommend trusted lawyers and help with translations.
🏦 5. Mortgage Costs (If Needed)
If you take a Spanish mortgage, you may also pay:
- Bank valuation fees (€300–€500)
- Opening fee (0.5%–1%)
- Life or home insurance (required by many banks)
🏠 6. Community Fees – €40 to €150/month
If your apartment is in a complex with a shared pool or garden, you’ll pay a monthly fee. These fees cover:
- Cleaning and maintenance
- Shared electricity and insurance
- Lift maintenance, etc.
Ask for the exact amount before you buy!
💡 7. Other Hidden Costs
Here are a few more things to keep in mind:
- Utility setup (electricity, water): €200–€400
- Furniture/appliance costs if not included
- Translator or power of attorney if you’re buying remotely
✨ Example Budget Breakdown (Apartment for €150,000):
| Item | Estimated Cost |
|---|---|
| Property Price | €150,000 |
| Transfer Tax (6.5%) | €9,750 |
| Notary + Land Registry | €1,000 |
| Lawyer Fees (1%) | €1,500 |
| Community Fees (1st Year) | €1,200 |
| Total Approximate Cost | €163,450 |
🔍 Summary: What to Expect When Buying in Gran Canaria
When you see apartments in Gran Canaria for sale, always remember to add 10–15% on top of the price for taxes and fees. Working with an experienced agency like Lux Building SL helps you avoid surprises and makes the process smooth and safe.
💬 FAQs: Costs of Buying Property in Gran Canaria
How much are the buying fees in total?
Usually between 10% and 15% of the property price, depending on the property type and location.
Do I have to pay tax if I buy as a foreigner?
Yes. All buyers, including foreigners, must pay the same taxes.
Can I buy property without visiting Gran Canaria?
Yes, it’s possible with a Power of Attorney and remote signing. We help many international clients buy their Gran Canaria apartments for sale this way.
Are community fees optional?
No. If the property is part of a building or resort, the community fees are required by law.
Contact Lux Building SL – Your Trusted Real Estate Experts in Gran Canaria
We’ll guide you through every cost and step involved in:
- Buying a flat in Gran Canaria
- Finding apartments for sale Puerto Rico Gran Canaria
- Making sure you have no hidden fees or legal issues
👉 Contact us now for a free consultation or a full property cost breakdown tailored to your needs!
