I’m Laura Leyshon and I’m Las Palmas’ resident property expert. I work for RE/MAX Cony Overseas, one of the city’s oldest estate agencies and the first RE/MAX office to open in Europe. Cony Overseas has an excellent local reputation and has helped hundreds of foreign buyers and sellers in Las Palmas and all over Gran […]
When you own a Gran Canaria property, you pay an annual tax to the local town hall called the Impuesto sobre Bienes Inmuebles (IBI).
The exact amount depends on the size of the property and the land value. Each ayuntamiento sets a rate between 0.4 – 1.1% of cadastral value per annum. The Las Palmas IBI is currently 0.67% of cadastral value. [Read more…]
You often hear that the cost of buying a property in Gran Canaria is about 10% on top of the price of the property.
But is it true in Las Palmas, and where exactly does all the money go?
The 10% figure is a good guideline, but the percentage varies. Costs for properties under about 100,000 euros are closer to 11%. Costs for a more expensive property are lower than 10%.
The costs that add up to approximately 10% are as follows… [Read more…]