Resale vs New Build in Las Palmas: How the Extra Costs Compare

In Las Palmas, buyers often get as far as comparing asking prices between a resale apartment and a new-build unit, then discover that the final bill is shaped just as much by taxes and fees as by the purchase price itself. A resale home carries a regional transfer tax, while a new build adds VAT and a stamp duty instead, on top of notary, land registry, gestoría and valuation costs that apply either way.

For a non-resident buyer coming from the UK, these differences also interact with the mortgage: the bank will ask for proof of income, bank statements and details of existing debts from the UK, usually with a sworn translation, before it can confirm how much of the purchase it is willing to finance.

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.

Before you commit to the numbers of a mortgage, it helps to know the place: dated figures on population, asking prices, transport links and climate in Las Palmas (province), each with its source. Together they give a grounded sense of Las Palmas (province) to weigh against your budget.

According to the INE annual census, 1,171,547 people were registered as living in the whole of Las Palmas province on 1 January 2025. The count takes in every town and village across the province, not only its capital. 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.

On 1 January 2025, INE counted 12,622 British nationals registered in the province of Las Palmas, a real presence without being one of the largest foreign communities there. It still points to a visible, ongoing community across the province. In 2021, 13,948 were registered, more than the current figure. The decline often reflects people leaving the area or dropping off the padrón rather than any sudden exodus. The table below lists the largest foreign nationalities registered in Las Palmas (province) on 1 January 2025, among those INE publishes for every municipality.

A further table sets out nationalities not broken down above, among them Germans, Italians, Dutch, Belgians and Scandinavians, registered throughout Las Palmas province. Unlike that earlier table, this one uses data from 1 January 2022, the latest edition with full nationality detail.

Our price bank includes 4,501 homes for sale throughout the province of Las Palmas, with a median of €2,750/m² and a median ticket of €250,000. Both numbers land close to the €3,135/m² median of the 130 towns we track across Spain. Listings span a wide spread, but the middle half of the market sits between €1,840 and €4,020 per square metre, leaving room for both lower and higher asking prices.

On the median asking price in Las Palmas (province) of €250,000, transfer tax at the regional rate of 6.5 % comes to about €16,200, plus roughly €3,000 for notary, registry and gestoría fees. The total of about €19,200 must come from the buyer's own savings, not the mortgage. Bear in mind these are asking prices from adverts live on 2026-11-01, not the prices actually agreed. Negotiation sets the final figure, which depends on the home's condition, exact location and orientation.

To illustrate how varied property markets can be within a single province, this table compares the towns we monitor in Las Palmas by population, foreign residents per 100 inhabitants and median price per square metre.

In 05/2026, Las Palmas (province) had an estimated 26,998 tourist homes according to INE's experimental platform-based statistic, equivalent to 115,284 bed places and roughly 23 per 1,000 residents. The level is moderate, though letting a home to tourists still needs a regional licence.

In Las Palmas (province), the commercial airports are Aeropuerto de Gran Canaria (LPA), Aeropuerto de Lanzarote (ACE), Aeropuerto de Fuerteventura (FUE). Availability of flights from your home airport varies by season, so comparing all of them before booking is sensible. The figures that follow reflect conditions in or around Las Palmas de Gran Canaria, the provincial capital; elsewhere in the province, particularly inland, at altitude or on other islands, the climate can vary considerably. With a January mean of 17.9 °C (minimum around 15.0 °C) and an August mean of 24.6 °C (maximum around 27.5 °C), this is a mild-winter climate by any measure. Many residents manage with little more than light heating in the coldest weeks. Annual rainfall runs to about 151 mm, recorded on roughly 22 days, a clearly dry pattern. All figures are AEMET's official 1981-2010 normals for the Gran Canaria Aeropuerto station, about 24 km away; expect small local variations, especially further inland or at higher elevation.

In the twelve months to 07/2026, 13,337 homes changed hands in the province of Las Palmas, INE figures show. Such activity tends to bring more reference prices and a larger selection for anyone searching. These are province-wide figures for Las Palmas, and they can differ substantially depending on the town and the property in question. Tell us about your plans and we will go through the numbers for 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.

When you buy a resale home in Las Palmas, the main extra cost is the transfer tax, known in Spain as ITP. It is set by the regional government, not nationally, so the exact rate depends on where in Las Palmas the property sits and sometimes on the price bracket. This tax is paid once, shortly after completion, and your gestoría normally handles the filing.

Because ITP is calculated on the property's value rather than on a fixed scale, it is worth asking your adviser or notary for the current regional rate before you commit, since it can change from one year to the next and differs from one Spanish region to another.

A new-build purchase in Las Palmas is taxed differently: instead of ITP, you pay VAT at 10% on the price, plus a stamp duty that is also set regionally. Both are usually settled at completion, and your gestoría should confirm the exact stamp duty rate that applies in Las Palmas before you sign.

Because VAT and stamp duty are calculated on the full purchase price, buyers sometimes assume a new build is automatically more expensive than a resale home once tax is added. That is not always the case: the comparison depends on the resale property's ITP rate and on the new build's stamp duty rate, both of which vary.

Beyond transfer tax or VAT and stamp duty, every purchase in Las Palmas involves the same group of costs: notary fees for signing the deed, land registry fees for recording your ownership, gestoría fees for handling paperwork and filings, and a bank valuation if you are applying for a mortgage. None of these depend on whether the home is resale or new build, though the land registry can take longer to process at busy times.

For a non-resident buyer there is one more line to plan for: currency conversion. Since the United Kingdom uses the pound sterling rather than the euro, the exchange rate on the day you transfer funds can move the final amount you actually pay, so it is worth asking your bank or currency provider for a clear quote before completion.

Spanish banks usually ask non-resident buyers for a larger deposit than they would ask a resident, and the exact share depends on the bank, your country and your personal profile — it does not change because the property is resale rather than new build. Mortgage terms in Spain usually run until the borrower is around 70 to 75 years old, with fixed, variable (linked to Euribor) and mixed-rate options available.

At Colibrí Finances we compare more than 20 Spanish banks, prepare your file and translate what each one asks for, whether you are buying a resale home or reserving a new-build unit still under construction. The study is free and without obligation, and our fees are agreed in writing beforehand, and we support you all the way to signing.

If you are weighing a resale home against a new build in Las Palmas, ask for the exact regional transfer tax rate or the exact stamp duty rate in writing, since both affect your final budget more than most buyers expect. Also note that the Spanish Golden Visa route for property investors ended on 3 April 2025, so residence through a property purchase is no longer an option to plan around.

Spain and the United Kingdom have a double taxation agreement, and once you own property here you will need to file an annual non-resident income tax return (Modelo 210); a local tax adviser can confirm exactly how this interacts with what you report to HMRC.

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.