What is the cost of living like in the Canary Islands?

A family of four estimated monthly costs are 2,513.4$ (2,383.0€) without rent. A single person estimated monthly costs are 697.6$ (661.4€) without rent. Las Palmas de Gran Canaria is 52.0% less expensive than New York (without rent). Rent in Las Palmas de Gran Canaria is, on average, 80.3% lower than in New York.



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Living in the Canary Islands is affordable. It's cheaper than the UK in a heap of aspects. For example, data from Numbeo suggests rental prices in the Canary Islands are 73.28% lower than in London, on average. Groceries are kinder to the bank balance too.

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Nomad's list of the best places to live in Spain in 2023 is topped by Gran Canaria for the second year in a row, also making the island the best Canary Island to live on, followed by the islands of Fuerteventura and Tenerife.

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Where to stay in the Canary Islands on a budget. The most budget-friendly islands in the Canaries are actually the biggest and most popular islands. Tenerife, Gran Canaria, Lanzarote and Fuerteventura all offer plenty of package holiday deals and have a wider range of accommodation options than their smaller neighbours ...

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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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Tenerife is not a particularly windy island, although there may be times when the wind is stronger.

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With average asking prices of just under 4,000 euros/m2, Costa Adeje and Playa de las Américas are the most expensive areas in the Canary Islands. In the luxurious Abama Resort in Guía de Isora, however, you can expect to pay around 6,500 euro/m2.

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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. The Sahara can bring high temperatures and fine sand to Lanzarote, causing occasional heatwaves.

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The luxury of Living in Exclusive Homes The most exclusive residential areas are Tafira, Santa Brígida and Maspalomas in Gran Canaria; La Orotava, Tacoronte, Puerto de la Cruz and La Laguna in Tenerife and Puerto Calero in Lanzarote.

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If you are moving to the Canary islands from another EU or EEA country, you won't need a visa to enter the islands. If you are staying permanently, you'll need to obtain a residence permit and an NIE card which will be issued by the immigration service and is needed to file taxes, open a bank account, etc.

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How long can people stay in the property for? For 90 days in a period of 180 days, without any need to obtain a tourist visa. For longer periods, British citizens are required to obtain a regular residence visa.

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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. This budget will easily cover your costs for a comfortable life on whichever island you choose.

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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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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 warmest Canary Island in winter is Tenerife. It boasts a warm climate all throughout the year, but in winter its temperatures are higher than the other islands.

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Winter is one of the best times of year for admiring the natural wealth of the islands. The humidity that concentrates in the higher areas intensifies the different tones of green that characterise many of the archipelago's natural spaces.

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The Canaries' Best Beaches
  • Lanzarote. Lovers of all things sun, sand and sea will find beach paradise in Lanzarote! ...
  • Tenerife. Wide golden arcs add a heavenly holiday spark when it comes to Tenerife's beaches. ...
  • Gran Canaria. ...
  • Fuerteventura.


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With a plethora of beautiful walks and breathtaking scenery, La Palma is certainly the prettiest Canary Island. Although less known for its beaches, the dramatic black sand beaches are a joy to uncover. The island is a UNESCO Biosphere Reserve protecting its natural heritage.

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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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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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Tenerife South (TFS) is often used by tourists closer to the sunny resorts south of the island. Tenerife is the easiest island to reach for US visitors, with United Airlines launching a nonstop flight from Newark (EWR) to Tenerife South (TFS) starting June 9, 2022.

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Gran Canaria has the warmest Christmas weather of the Canary Islands, with an average temperature of 23ºC and 6 hours of complete sunshine!

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