Owning a second home in Las Palmas de Gran Canaria is a dream for many, but there comes a time when it might make sense to sell. Whether you’ve enjoyed years of sunshine or only visited occasionally, selling a property as a non-resident requires planning, trusted advice, and up-to-date market knowledge.
This guide walks you through the key considerations and steps involved.
Why Sell Your Second Home in Las Palmas?
While every homeowner’s reasons are personal, there are several common trends motivating non-resident Las Palmas owners to consider selling now:
- Potential Tax Changes: Governments across Europe are increasingly looking at second homes as a revenue source. Future rises in property-related taxes for non-residents are likely.This is especially true in the Canary Islands where there is a lack of residential property and growing political pressure to limit property purchases by investors and non-resident owners (even those from the EU).
- Strong Current Market Values: Property prices in Las Palmas remain high, offering sellers a strong return on investment. Selling now can lock in those gains.
- A Global Shift in Priorities: Many Las Palmas holiday home owners, especially since the pandemic, are reassessing their needs. Remote work, lifestyle changes, and a desire for simplicity are encouraging people to offload unused properties.
- The Selling Process: What to Expect
Selling your second home in Las Palmas from abroad is entirely doable—but preparation and local support are vital. Here’s how to get started:
- Preparation Before You Sell:
- Gather all your property documents, including title deeds, latest utility bills, and community fees.
- Carry out any minor repairs and de clutter the property ready for listing and showing.
- Expected Timeline:
- On average, property in Las Palmas takes three to six months to sell, though this depends on pricing and presentation.
- Administrative steps like notary appointments and tax processing can add time, so factor in some flexibility.
The Costs of Selling a Las Palmas Property
Selling your Las Palmas holiday home isn’t free, and understanding the costs ahead of time can help you plan better:
- 3% Tax Retention: The Spanish tax office withholds 3% of the sale price at the notary to cover potential capital gains tax. You can claim part of this back if you’ve made little or no profit.
- Capital Gains Tax: Both residents and non-residents pay capital gains tax on profits from the sale. At present the rates are set at these levels::
- For residents: Up to 6,000 Euros: 19%, 6,000 – 50,000 Euros: 21%, 50,000 – 200,000 Euros: 23%, 200,000+ Euros: 26%
- For non-residents from the EU, 19%
- For non-residents not from the EU, 13%
- Plusvalía Tax: This is a municipal tax based on the increase in the value of the land since you bought the property.
- Other Costs:
- Energy certificate (approx. €100-150)
- Legal fees, if using a local lawyer
- Real estate agency fees (usually 5% of the final sale price)
The Best Way to Sell Your Las Palmas Property
To attract serious buyers and get the best price, it’s essential to market your property effectively:
- Get an accurate market valuation from an expert estate agent.
- Use Major Portals: Properties must be listed optimally on platforms like Idealista and Fotocasa.
- Work with a Trusted Local Estate Agent: A good agent ensures your property is presented professionally, and seen by the right buyers. A quality local agent also coordinates the sale and anticipates any problems.
- Professional Photography and Staging: First impressions matter, especially for remote buyers browsing online.
Why Choose Laura Leyshon from Las Palmas Property
When it comes to selling as a non-resident, having the right estate agent makes all the difference. Laura Leyshon of Las Palmas Property is a proven expert:
- Over a Decade of Local Experience: I’ve helped international clients sell property in Las Palmas for more than 15 years.
- Specialist in Non-Resident Sales: I understands the unique challenges and paperwork involved when selling from abroad.
- Hundreds of Successful Sales: My track record speaks for itself. My clients consistently praise my honesty, proactivity, and local knowledge.
- Bilingual and Client-Focused: Communication is never a barrier. I am fluent in English and Spanish, and always acts in my clients’ best interests.
If you’re considering selling your second home in Las Palmas, working with someone who truly understands your situation is invaluable. Contact me today to start the process with confidence.