Mortgage for a holiday home in Las Palmas: what non-residents should know

Spanish banks do not have a separate mortgage product for holiday homes. Whether the property in Las Palmas will be lived in full time or visited a few weeks a year, the lender looks at the same things: the property, your income, your existing debts and your profile as a non-resident borrower.

What does change is the buyer's situation compared with someone moving to Spain permanently. You will still need a Spanish tax number (NIE) and a Spanish bank account to complete the purchase and make payments, and the bank will still ask for proof of income and debts from the United Kingdom, usually with a sworn translation.

Las Palmas covers the eastern Canary Islands, including Gran Canaria, Lanzarote, and Fuerteventura, known for their volcanic landscapes and year-round mild climate. Buyers are often drawn by the subtropical setting and the possibility of outdoor living outside the typical mainland Spanish seasons, including retirees and remote workers.

Airports on the main islands provide regular international connections, supporting both holiday visits and longer stays throughout the year. Property types include coastal apartments, villas, and traditional island houses, with tourism present year-round but often peaking during winter months.

What follows are measured, dated figures for Las Palmas (province) — who lives there, what homes are advertised for, how to get there and the climate — each one sourced. They help you build a realistic picture of Las Palmas (province) as you work out the budget for a Spanish mortgage.

On 1 January 2025 the INE recorded 1,171,547 residents across the entire province of Las Palmas, a figure that includes every municipality, not just the capital that shares its name. These official population data set the context for the local market figures below. The province of Las Palmas registers 171,235 residents of foreign nationality, about 15 out of every 100 people. That share is notable yet far from dominant, and it varies widely between towns within the province.

As of 1 January 2025, the province of Las Palmas had 12,622 British nationals on its register. The number reflects a real, steady presence, even if it falls short of the province's largest foreign communities. The figure has fallen since 2021, when 13,948 were registered. Such decreases are usually gradual, as residents relocate or fail to keep their registration up to date. Here are the largest foreign communities registered in Las Palmas (province) on 1 January 2025, drawn from the nationality figures INE publishes for each municipality.

For nationalities the census groups together rather than listing them individually, such as Germans, Italians, Dutch, Belgians or Scandinavians, we turn to the detailed INE register for Las Palmas province. Unlike the table above, this count dates from 1 January 2022, the most recent detailed edition.

Of the 2,871 homes for sale across the province of Las Palmas, the median asking price is €2,730/m² and the median ticket €250,000 in our data. That puts the province near the middle of the table, close to the €3,210/m² median across the 127 towns we track. Among current adverts, the central half cluster between €1,810 and €3,990 per square metre; some properties are listed well below this band, others well above it.

In Las Palmas (province), the regional transfer tax rate of 6.5 % applied to the median asking price of €250,000 gives a tax bill of about €16,200, plus roughly €3,000 for notary, registry and gestoría charges. That puts the total near €19,200, money the mortgage will not cover. These are asking prices taken from adverts active on 2026-10-05, not confirmed sale prices. What a buyer actually pays is negotiated, and depends on the condition, exact location and orientation of each home.

This table sets out population, foreign residents per 100 people and median price per square metre for the towns we track in Las Palmas (province), highlighting how much local markets can vary.

INE's experimental statistic, based on listings from the main holiday-rental platforms, counted 26,998 holiday-let homes in Las Palmas (province) in 05/2026 (115,284 bed places), about 23 per 1,000 residents. That is a moderate presence, and tourist letting still requires a regional licence.

Las Palmas (province) is served by these commercial airports: Aeropuerto de Gran Canaria (LPA), Aeropuerto de Lanzarote (ACE), Aeropuerto de Fuerteventura (FUE). Readers should check which one connects with their home airport in the season they intend to fly, since this can change throughout the year. These weather readings come from Las Palmas de Gran Canaria, the capital of the province, so inland areas, higher ground or other islands within the same province can show noticeably different conditions. The mean temperature in January is 17.9 °C (average daily minimum 15.0 °C) and in August 24.6 °C (average daily maximum 27.5 °C), marking a genuinely mild winter. Heating needs tend to be modest compared with much of Europe. Rainfall is low: about 151 mm a year, spread over roughly 22 days with measurable rain. Climate data come from AEMET's 1981-2010 normals, recorded at its Gran Canaria Aeropuerto station around 24 km away; the actual spot may vary a little, particularly further inland or higher up.

13,258 home sales were registered in the province of Las Palmas in the twelve months to 06/2026, according to INE. A market of this size usually means more comparable sales and a wider choice of homes for buyers. Bear in mind that these numbers reflect the province of Las Palmas overall; they shift a great deal between towns and between individual properties. Let us know what you have in mind so we can look at your case.

The transfer tax on a resale home is set by each Spanish region. In Las Palmas the general rate is 6,5 %, and on top of it come notary, land registry and gestoría (roughly one more percent). On a new build you pay 10 % VAT plus stamp duty instead of the transfer tax. This money is not lent by the bank.

A non-resident buying a holiday home in Las Palmas goes through the same underwriting process as any other non-resident purchase: the bank studies the property, your income and your existing commitments before deciding whether to lend and on what terms. There is no separate, lighter track just because the home will sit empty part of the year.

What is consistent across Spanish banks is that non-residents are usually asked for a larger deposit than residents, and the exact share depends on the bank, your country and your profile. Mortgage terms in Spain typically run until the borrower is around 70 to 75 years old, and you can choose between fixed, variable (Euribor-linked) or mixed rates.

Before a Spanish bank will study a file for a property in Las Palmas, you need an NIE and a Spanish bank account open, since both are required to buy and to pay. The list of supporting documents varies by bank, but it usually includes proof of income, your UK tax return, recent bank statements and details of any existing mortgage or loan commitments, translated by a sworn translator.

Because the United Kingdom is no longer an EU member state, this also affects how long you can be in Spain while the process runs and afterwards, and it is worth planning visits around that limit rather than assuming an open-ended stay.

The mortgage is only part of the budget. On top of the price of a home in Las Palmas, buyers pay transfer tax on resale homes, set by each region, or 10 % VAT plus stamp duty on a new build, along with notary fees, land registry fees, gestoría costs and the bank's valuation of the property.

Once you own the property, non-resident owners must file an annual Modelo 210 tax return in Spain. Spain and the United Kingdom have a double taxation agreement, and a local tax adviser should confirm how any rental income or eventual gain is declared both in Spain and to HMRC. Because the UK uses sterling rather than the euro, it is also worth planning for exchange-rate movement and conversion costs when transferring funds for the purchase or the ongoing mortgage payments.

Spain is a relatively short flight away from most UK airports, making regular visits to a Spanish property straightforward for owners based in Britain. Many British buyers are drawn to Spain for its climate, coastal lifestyle and established expatriate communities. One practical point to bear in mind is that Spanish inheritance law differs from UK rules, so it is worth taking specific advice on how it may affect the property and one's estate. Currency movements between sterling and the euro can also affect the overall cost of purchase and ongoing expenses.

Spain and the United Kingdom have a double taxation agreement in place, and a local tax adviser should confirm how rental income or gains from Spanish property must be declared and reported to HMRC.

As the United Kingdom is no longer an EU member state, British citizens may stay in Spain for up to 90 days in any 180-day period without a visa, and must apply for a visa or residence permit for longer stays.

Since the United Kingdom uses the pound sterling (GBP) rather than the euro, buyers should factor in exchange-rate movements and currency conversion costs when paying for a property or transferring funds to Spain.