Las Palmas Property Guide: Upmarket Property In Tafira

Tafira town is a suburban property area just a few minutes drive from Las Palmas city centre with a good mix of houses and luxury villas.

Tafira, just inland of Las Palmas city, is a desirable area for both locals and foreign residents. While it’s outside the city limits, the whole area is within the Las Palmas municipality.  [Read more…]

Spread the sunshine

A Look Forward At Las Palmas Property In 2018: By Resident Agent Laura Leyshon

Las Palmas property in 2018: Market summary and buyer tips by resident estate agent Laura Leyshon

Within a month, our winter visitors arrive and my life gets hectic. So, while I still have the time, let’s look ahead at what to expect if you plan to buy a Las Palmas property in 2018.

[Read more…]

Spread the sunshine

Bought A Bargain Gran Canaria Property: Got A Big Tax Bill. Why?

How to avoid buying a bargain Las Palmas property, then getting a big Gran Canaria tax bill

If you buy a bargain Las Palmas property, or pay a significant proportion of the asking price in under-the-table cash, you may get a large extra tax bill. [Read more…]

Spread the sunshine

How To Buy A Beachfront Las Canteras Property

Professional guide to buying a beachfront Las Canteras property in Las Palmas de Gran Canaria city

Beachfront Las Canteras property is amongst the most sought after anywhere in Spain. This is no surprise when you take into account the views and the fact that you can use it all-year-round. [Read more…]

Spread the sunshine

The Big 6 Advantages Of Buying A Las Palmas De Gran Canaria Property

The Big 6 Advantages Of Buying A Las Palmas De Gran Canaria Property

6 Major Advantages Of Buying A Las Palmas De Gran Canaria Property

Buying an apartment or even a townhouse in Las Palmas de Gran Canaria city has some serious advantages. Here are the big six…

You can use your property all year round without packing a jacket

Las Palmas has a mild climate throughout the year with temperatures rarely dropping below 20ºC. This means you can use the city’s incredible beach and a vast range of outdoor cafes and restaurants all-year-round.

Unlike the Mediterranean and the rest of Spain, there is no real closed season in the Canary Islands and Las Palmas city is a fun place to be even during the depths of ‘winter’. For example in February, often the wettest month in Las Palmas with an average of eight days of rain per year, the city is buzzing thanks to the annual carnival.

All property can be rented to tourists

All property in Las Palmas city is classified as residential and you can, therefore, apply for a tourist rental license (Licencia de Vivienda Vacacional) and rent it on a short-term basis to holidaymakers.

With tourism is Las Palmas booming all-year-round, and the rules for holiday rentals in Gran Canaria’s resorts so complex, the city is an ideal place to invest in a rental property that you can also use for holidays whenever you choose.

More on holiday rental investment property in Las Palmas.

Residential rental yields are amongst the highest in Spain

Residential rents in Las Palmas have risen by 22% in the last year. This is due to high demand (everyone wants to live by the beach), a lack of new building in the last 10 years, and the booming tourist rental market (owners are renting short-term rather than on an annual basis). Spain’s cultural attachment to owning property rather than renting also plays a big part; most Canarians buy a property to live in as soon as they can rather than rent.

Residental rental properties are in short supply and high demand, making them an excellent investment that is much lower-effort than a tourist rental investment. The disadvantage of letting on a long term basis is that you can’t use our Las Palmas property whenever you want to.

The right one-bedroom apartment in the beach areas of Las Palmas (not on the front) currently rents out for 600 euros per month. Not bad given that you can buy them for just over 100,000 euros.

Prices are close to historical lows and the future is bright

Prices in Las Palmas city fell by almost 40% in the decade after the global crisis that started in 2006. They have only really started to rise in high-demand areas of the city within the last 12 months.

With tourism booming in Gran Canaria and Las Palmas, the Canarian economy recovering well, and sustained demand from both local and foreign buyers, the long-term prospects for Las Palmas property are positive.

Prices rises are being driven by pent-up demand from locals looking to upsize, sustained foreign buyer interest, and old-fashioned lack of supply. With the locals banks still being careful with lending, there isn’t even a whiff of the speculation-driven bubble that pushed up prices in the early 2000s.

That said, if you buy in a high-demand area of Las Palmas, the market is busy and you will always know that you can resell when you want to. The property market close to the beach has the major benefit of liquidity.

Owning a property in Las Palmas is cheap

Buying a Las Palmas property costs you around 10% on top of the price you pay (in purchase taxes, notary and registry fees, etc). This is pretty much standard across Spain.

However, once you own a property in Las Palmas, your annual tax costs are remarkably low.

There are no municipal taxes for things like rubbish collection, and no monthly council tax.

Owners only pay an annual (IBI) tax on the land your property occupies. This is levied by the local Ayuntamiento and is rarely more than a few hundred euros per year.

If you are a non-resident owner and choose not to rent out your property, there is also a small annual tax.

All you have to pay is for electricity, water, internet and cable TV if you want it, and the monthly community fees if you buy an apartment in a building with communal areas.

Las Palmas city tops the rankings

Las Palmas ranks in the top 5% of cities worldwide when it comes to quality of life, according to website Numbeo.com.

Numbeo factors in a wide range of things that affect lifestyle, such as commute times, air quality, weather, cost of living, etc and comes up with an aggregate score for each city. Las Palmas’ score is amongst the highest out there.

The city also has the cleanest air of any city in Spain, the most pleasant urban weather in the world, a world-class city beach, and low crime rates.

In short, Las Palmas is a great city to live in.

Las Palmas city just gets better and better

I’ve lived in Las Palmas city for almost 15 years and I can tell you from experience that it is getting better and better.

The restaurants and bar scene is buzzing (new rules mean that rooftop bars are now allowed and they are popping up fast), the city is investing in parks and green spaces, and the bike lane network gets better all the time.

Add to that a thriving cultural scene with an auditorium, several theatres, live music almost every weekend and lots of local fiestas and Las Palmas is a place that it is hard to get bored of.

Oh, and did I mention Las Palmas’ five beaches? What about the surfing, and the snorkelling, and the running tracks?

Las Palmas Property

I’m Laura Leyshon and I’m Las Palmas’ resident British estate agent. I speak fluent English, Spanish and French and my job is to help buyers looking for their ideal Las Palmas property.

I work for RE/MAX Cony Overseas, one of the city’s oldest and most prestigious estate agencies, and can show you almost every for sale property in the city.

I help my buyers throughout the entire process of finding and buying a property in Las Palmas.

Please feel free to contact me for a chat at any time.

Spread the sunshine

How To Find The Perfect Las Palmas Rental Apartment

Guide to finding a property to rent in Las Palmas de Gran Canaria city

Most people who live in Las Palmas rent an apartment; the rental market is moving fast at the moment so here’s my guide to searching for a place to live in the city.

The Las Palmas property rental market is currently high on demand and low on supply. Finding a good place to live at short notice is pretty tricky, especially if you want to be close to Las Canteras beach.

There are a couple of good reasons for this…

The first is that most people, local and foreign, want to live in the flat part of Las Palmas close to the beach.

The second is that a lot of residential property is now being rented out as holiday lets; short-term rental was legalised in the city in 2015 and the market is currently booming.

Good news if you own a property, not so good if you want to rent one.

The cost of renting a Las Palmas Property

Studios and one-bedroom apartments close to the beach cost at least 600 euros per month and up to 750 euros, depending on location and on whether they have outside space. A two-bed place costs upwards of 900 per month and three bedrooms will set you back well over 1000 euros per month.

As you move back from the beach and up the hill, prices drop in line with the distance from the flat part of town. In the high parts of the city you can rent three bedrooms for 700 euros per month.

Tenants pay the owner a month’s deposit and the first month’s rent in advance. Some owners ask for two month’s rent as a deposit if their apartment is well furnished or if you have a pet.

In most cases, you don’t have to pay anything else. However, it is legal for the property owner to include clauses in the rental contract that make the tenant liable for the monthly community charge (for lift and communal area maintenance) and even the annual IBI property tax.

Your rights as a Las Palmas rental tenant

See this article for a full guide to your rights as a tenant in Las Palmas & Gran Canaria.

Finding a Las Palmas rental property

It’s almost impossible to find a long-term rental property in Las Palmas before you arrive. Flats rent out fast and owners are not willing to wait for a tenant who isn’t on the island.

So, I advise you to book a holiday let apartment for the first few weeks you are in the city or stay in a hostel, co-working space, or cheap hotel. This way you know you have somewhere to sleep (and an internet connection) while you look for a long-term place to live.

Most owners and estate agencies now advertise their rental properties on the internet on portals like Idealista and Fotocasa.

The portals are the best place to start looking and to get a feel for prices and availability. Check them regularly as good rentals don’t stay on the market for long these days.

Note that many rentals advertised on the portals are listed by estate agents.

Using an estate agency to find a rental property

If you are in Las Palmas and ready to move into a flat, having a good agent scanning for new rentals is a good idea; agents see the latest rentals before they go onto the portals.

Estate agencies in Las Palmas charge a month’s rent as commission when they rent out a property. This fee is paid by the tenant.

So, if you use an agency you have to pay out three month’s rent in advance; one for the commission, one as a deposit, and one in advance.

Las Palmas property rental hacks

Many older owners still don’t trust the internet so it’s always worth walking around looking for signs that say ‘alquiler’.

Also, some owners don’t use agencies and rely on word-of-mouth to rent their apartments so it’s always worth asking in local shops and bars.

The porters in big buildings often act as unofficial letting agents and know if anything is about to become available.

Another option is to scan holiday rental websites like Airbnb and ask owners if they are willing to let you rent long-term. Most owners with property close to the beach will say no, but you may be lucky if you target properties in residential areas of the city away from the sand.

The best months to look are in the slowest months for holiday lets; May, June and September.

If you want to rent a room rather than a flat, look in Facebook groups like Rent & Share Gran Canaria. It’s also worth checking noticeboards in language bookshops and academies, and even up at the University in Tafira.

Las Palmas Property

I’m Laura Leyshon, Las Palmas’ resident British estate agent. If you’re looking for an apartment to rent in the city, please feel free to contact me with the details.

Spread the sunshine

How To Sell Luxury Gran Canaria Property: Beyond The Basics

Selling a luxury Gran Canaria property is about going beyond the basics and offering quality service to bother seller and potential buyers

There are main two parts to the process of selling a luxury Gran Canaria property. The first is getting the basics right. 

By the basics, I mean quality pricing, photography, descriptions, marketing plan, etc.

Sounds obvious, but the luxury market in Gran Canaria isn’t that sophisticated and high-value properties are often treated the same as standard apartments.

More about that later on. [Read more…]

Spread the sunshine

Guide To The Main Luxury Gran Canaria Property Areas

Luxury Gran Canaria property area guide

As a RE/MAX Collection agent, I specialise in luxury Gran Canaria property. Here’s my guide to the main luxury Gran Canaria property areas and where to look for the island’s best villas, penthouses and grand old townhouses. 

Let’s start with the capital city with its world-class urban beach and cobbled old town. [Read more…]

Spread the sunshine

Luxury Gran Canaria Property: Adding Value With Quality Service

Laura & Iraya: Luxury Gran Canaria property agents for RE/MAX Collection

Laura & Iraya: Gran Canaria luxury property agents

I’m very proud to be a RE/MAX Collection agent and one of Gran Canaria’s few specialist luxury property agents.  [Read more…]

Spread the sunshine

Renting A Las Palmas Property? Here’s What You Need To Know

What Spanish law says about renting a Las Palmas property

What the law says about renting a Las Palmas property

Spanish law governing residential rental contracts changed in 2013, but many people don’t know about the new rules. Here’s a quick guide to the current Ley de Arrendamientos Urbanos or LAU for anyone renting a Las Palmas property.  [Read more…]

Spread the sunshine

Warning: A non-numeric value encountered in /home/usrlaspalmasprop/public_html/wp-content/plugins/ultimate-social-media-icons/libs/controllers/sfsi_frontpopUp.php on line 63