Can Americans buy property in the Canary Islands?

Canaries are attractive for their prices (here you can find an apartment from 50,000 euros), preferential taxation and lack of seasonality. By law, foreign investors in Spain can buy and resell any property without restriction.



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Anyone with a sufficient motive or connection can become a resident of the Canary Islands. However, if you have decided to spend a long time in the Canary Islands, you will need a residency permit.

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The average price is just under 2,400 euros/m2 in the better areas. Houses/villas typically cost between 220,000 and 3 million euros and two-bedroom apartments between 170,000 and 540,000 euros.

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The Canary Islands not only represent a first-class tourist destination for people from all over the world, but they also boast a thriving real estate market. So much so that, at the moment, they offer an excellent opportunity for investors.

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Even better, house prices in Las Canarias are fairly affordable, if you know where to look… the two cheapest Canary Islands to buy property are Tenerife and Gran Canaria.

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The pro and cons of moving to the different Canary Islands include Tenerife, Gran Canaria, Fuerteventura, and Lanzarote.
  • Tenerife – Best for everyone including British Expats. ...
  • Fuerteventura – Best for beaches and great value properties. ...
  • Gran Canaria – Best for laid-back holiday homes.


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If you are buying a new property in Gran Canaria, you will pay 7% IGIC (General Indirect Tax of the Canary Islands) + 1% of the purchase price. If you are buying a second-hand home, the rate is 6.5% of the purchase value. On top of that, you will have to pay registration fees.

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Additionally, the cost of living on the Canary Islands is much cheaper than in mainland Spain, making it an attractive option for those on a budget. The Canary Islands are a great place to live for many reasons.

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The Canary Islands have a subtropical climate, with mild temperatures throughout the year. The islands enjoy plenty of sunshine and warm weather, making them an excellent choice for those who love a mild and pleasant climate.

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A temporary residency allows you to stay on the islands for between 90 days and five years. Permits for less than five years can be renewed every year at the subject's request.

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Which airlines offer direct flights to Canary Islands from the United States? United Airlines, Lufthansa, and Brussels Airlines offer direct flights to Canary Islands from the United States.

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A temporary residency allows you to stay on the islands for between 90 days and five years. Permits for less than five years can be renewed every year at the subject's request.

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Even if you own a property in Spain, you're still entitled to stay for only 90 days in a 180-day period without applying for a residence permit or a visa.

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To buy a property in Tenerife as a non-resident it is a essential to get a NIE number (Foreigner Identification Number). Apply for the NIE at the national police station. You have the option to handle the application yourself or to obtain it faster and easier you can hire an assistance from your real estate agent.

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As an example, the Canaries are not part of the European VAT but instead they have a local consumer tax with a standard rate of 7% (much lower than the minimum 15% rate set by EU to each of their member states), besides this, without a doubt, the principal attraction for investors is that the region has by far the ...

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Best Places to Retire in the Canary Islands – A Guide These islands, a popular tourist destination, are located just off the north coast of Africa and a ferry ride from Spain. Lanzarote and Fuerteventura are mentioned as the best islands to live on with little development and a low cost of living.

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How much do you need to retire in Canary Islands? In reality, the Canary Islands cost of living is not as high as many people think. To get a non-lucrative residency visa to stay in Spain long-term, you only need a passive income of €2,151 per month.

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The canaries are an EU tax haven, although not in the traditional sense: this jurisdiction, part of Spain, makes available many tools for tax planning of known companies. First, the Canaries tax system is easier and with lesser tax burden than other European countries, fully legal and authorized by European Commission.

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Lanzarote. Lanzarote tends to be the hottest and most arid of the Canaries, as it is closest to the Sahara desert and because it is one of the lowest lying islands.

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Anyone with a sufficient motive or connection can become a resident of the Canary Islands. However, if you have decided to spend a long time in the Canary Islands, you will need a residency permit.

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The Canary Islands climate is considered the best climate in the world, thanks to the year-round pleasant, mild temperatures. This is added to the facts that it rarely rains in the archipelago and that it is the region with the most hours of sunlight per day in Europe.

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