{"id":41864,"date":"2024-12-12T19:00:00","date_gmt":"2024-12-12T19:00:00","guid":{"rendered":"https:\/\/www.propertyforsalegrancanaria.com\/costs-of-buying-property-in-gran-canaria\/"},"modified":"2024-12-13T09:23:26","modified_gmt":"2024-12-13T09:23:26","slug":"costs-of-buying-property-in-gran-canaria","status":"publish","type":"page","link":"https:\/\/www.propertyforsalegrancanaria.com\/en\/costs-of-buying-property-in-gran-canaria\/","title":{"rendered":"Costs of Buying Property in Gran Canaria"},"content":{"rendered":"<div class=\"wpb-content-wrapper\"><p>[vc_row][vc_column][vc_custom_heading text=&#8221;Costs of Buying a Property in Gran Canaria: Prices, Taxes and Expenses to Consider&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\">Are you considering an investment property and are concerned about what expenses you will face?<\/span><\/p>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Notary fees&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h2 style=\"text-align: center;\" data-pm-slice=\"1 1 []\"><\/h2>\n<p>The notary is a central figure in the buying process, responsible for drafting and certifying the deed. Notary fees are regulated by the state and vary mainly according to the <strong>value of the property<\/strong> and the <strong>complexity of the deed<\/strong>. <\/p>\n<h4><strong>How is the notary&#8217;s cost calculated?<\/strong><\/h4>\n<ol start=\"1\" data-spread=\"false\">\n<li><strong>Property value:<\/strong> Notary fees are progressive and increase with the declared value of the property. For example, for properties worth more than 100,000\u20ac, the rate charged is lower than for properties of lower value. <\/li>\n<li><strong>Additional services:<\/strong> If the deed includes special clauses, such as usufruct rights or property divisions, costs may increase.<\/li>\n<li><strong>Number of pages in the deed:<\/strong> Longer deed means higher costs, as rates include the cost per page.<\/li>\n<\/ol>\n<h4><strong>Estimated cost:<\/strong><\/h4>\n<ul data-spread=\"false\">\n<li><strong>Low to medium value properties:<\/strong> Between <strong>\u20ac600 and \u20ac900<\/strong>.<\/li>\n<li><strong>Properties with high value or legal complexity:<\/strong> Up to <strong>\u20ac1,300<\/strong> or more.<\/li>\n<\/ul>\n<h4><\/h4>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Fees (ITP)&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221;][vc_column_text css=&#8221;&#8221;]<\/p>\n<h3 style=\"text-align: center;\" data-pm-slice=\"1 1 []\"><strong>  Transfer Tax (ITP &#8211; Impuesto de Transmisiones Patrimoniales).<\/strong><\/h3>\n<p>If you are buying a used property, the ITP will be one of the main taxes you will face. This tax varies by region in Spain, and in the Canary Islands, the rate is generally set at <strong>6.5 percent<\/strong> of the purchase price. <\/p>\n<h4><strong>What is ITP?<\/strong><\/h4>\n<p>ITP is a compulsory tax that applies to the transfer of existing property (used real estate). It is calculated as a percentage on the declared value of the property in the sales contract or, if higher, on the minimum cadastral value established by the tax administration. <\/p>\n<h4><strong>How and when is ITP paid?<\/strong><\/h4>\n<ul data-spread=\"false\">\n<li><strong>Deadline for payment:<\/strong> You have <strong>30 working days<\/strong> from the date of signing the notarial deed to pay the tax.<\/li>\n<li><strong>How to pay:<\/strong>\n<ol start=\"1\" data-spread=\"false\">\n<li><strong>At the Regional Tax Agency:<\/strong> You can go directly to the tax office of the Autonomous Community of Canary Islands.<\/li>\n<li><strong>Online:<\/strong> Some regions offer an online payment system through the tax agency&#8217;s official website.<\/li>\n<li><strong>Through a manager or lawyer:<\/strong> You can hire a professional to complete the formalities on your behalf.<\/li>\n<\/ol>\n<\/li>\n<\/ul>\n<h4><strong>Sample calculation:<\/strong><\/h4>\n<p>For a property worth <strong>\u20ac200,000<\/strong>, the ITP will be: <\/p>\n<ul data-spread=\"false\">\n<li><strong>6,5% \u00d7 200.000\u20ac = 13.000\u20ac<\/strong>.<\/li>\n<\/ul>\n<h4><strong>Important caveats:<\/strong><\/h4>\n<ol start=\"1\" data-spread=\"false\">\n<li><strong>Declared value:<\/strong> Make sure that the declared value of the property matches at least the minimum cadastral value established by the tax authorities. If you declare a lower value, you may be subject to tax audits and an assessment with penalties. <\/li>\n<li><strong>Payment receipt:<\/strong> Always keep the ITP payment receipt, as it will be needed to complete the registration of the property at the land registry.<\/li>\n<\/ol>\n<div>\n<hr>\n<\/div>\n<h3><\/h3>\n<p>[\/vc_column_text][vc_custom_heading text=&#8221;Cadastre&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221;][vc_column_text]<span style=\"color: #000000;\">After executing the notarial deed, it is necessary to proceed within 30 days to pay the fees related to the registration of the property at the land registry (Registry Office).<br \/>\nThese costs are established by regulations and vary according to the value of the property. <\/span><\/p>\n<p style=\"text-align: center;\"><span style=\"color: #000000;\"><strong>  They are usually between 400 and 800 euros.<\/strong><\/span><\/p>\n<p>[\/vc_column_text][vc_column_text][\/vc_column_text][vc_separator style=&#8221;shadow&#8221; border_width=&#8221;10&#8243;][vc_column_text][\/vc_column_text][vc_column_text]<\/p>\n<h2 class=\"vc_custom_heading vc_custom_1675252268416\" style=\"text-align: center;\">Our property tax management services in Gran Canaria<\/h2>\n<p>[\/vc_column_text][vc_column_text]<span style=\"color: #000000;\">Many real estate investors who decide to purchase property in Spain or the Canary Islands are often unaware of the automatic obligation to pay local taxes.<br \/>\nKnowledge of these taxes is essential to optimize investments and ensure tax compliance. <\/span><\/p>\n<p><span style=\"color: #000000;\">My Team offers comprehensive assistance in the tax management of your property in Gran Canaria.<br \/>\nWe are experts in both support for the purchase and sale of real estate, as well as the management of income from short rentals, for both non-resident and resident owners.<br \/>\nBy choosing our services, you can optimize your property tax management with professionalism and expertise.  <\/span>[\/vc_column_text][vc_column_text]<\/p>\n<p style=\"text-align: center;\"><a href=\"https:\/\/www.propertyforsalegrancanaria.com\/gestione-fiscale-degli-immobili\/\">FOR MORE INFORMATION CLICK HERE AND DISCOVER ALL OF OUR TAX MANAGEMENT SERVICES FOR APARTMENTS IN GRAN CANARIA<\/a><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1680861140553{background-color: #ffffff !important;}&#8221;][vc_column css=&#8221;.vc_custom_1680860957118{background-color: #282828 !important;}&#8221;][vc_custom_heading text=&#8221;DO YOU NEED MORE INFORMATION ABOUT MANAGING YOUR PROPERTY OR BUYING PROPERTY IN GRAN CANARIA IN GENERAL?&#8221; font_container=&#8221;tag:h2|font_size:27|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\"><span style=\"color: #ffffff;\">Choose below which option is right for you<\/span><\/p>\n<p>[\/vc_column_text][\/vc_column][\/vc_row][vc_row full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1680860863292{padding-bottom: 15px !important;background-color: #282828 !important;}&#8221;][vc_column width=&#8221;1\/2&#8243;][vc_custom_heading text=&#8221;REQUEST A VIDEO CALL&#8221; font_container=&#8221;tag:h3|font_size:20|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">Request an appointment now to schedule a VIDEO CALL by filling out the form indicating the day and time you prefer to be contacted.<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;VIDEO CALL REQUEST&#8221; style=&#8221;custom&#8221; custom_background=&#8221;#000000&#8243; custom_text=&#8221;#ffffff&#8221; shape=&#8221;round&#8221; align=&#8221;center&#8221; css=&#8221;.vc_custom_1680863130743{border-top-width: 3px !important;border-right-width: 3px !important;border-bottom-width: 3px !important;border-left-width: 3px !important;padding-top: px !important;padding-right: px !important;padding-bottom: px !important;padding-left: px !important;border-left-color: #ecef81 !important;border-left-style: solid !important;border-right-color: #ecef81 !important;border-right-style: solid !important;border-top-color: #ecef81 !important;border-top-style: solid !important;border-bottom-color: #ecef81 !important;border-bottom-style: solid !important;border-radius: 30px !important;}&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.propertyforsalegrancanaria.com%2Fen%2Fcontact%2F|&#8221;][\/vc_column][vc_column width=&#8221;1\/2&#8243;][vc_custom_heading text=&#8221;CONTACT BY EMAIL&#8221; font_container=&#8221;tag:h3|font_size:20|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">Contact us by sending a simple Email to receive any information, we will reply within 24 hours to your Email address<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;CONTACT THE AGENCY&#8221; style=&#8221;custom&#8221; custom_background=&#8221;#000000&#8243; custom_text=&#8221;#ffffff&#8221; shape=&#8221;round&#8221; align=&#8221;center&#8221; css=&#8221;.vc_custom_1680863334433{border-top-width: 3px !important;border-right-width: 3px !important;border-bottom-width: 3px !important;border-left-width: 3px !important;border-left-color: #ecef81 !important;border-left-style: solid !important;border-right-color: #ecef81 !important;border-right-style: solid !important;border-top-color: #ecef81 !important;border-top-style: solid !important;border-bottom-color: #ecef81 !important;border-bottom-style: solid !important;border-radius: 25px !important;}&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.propertyforsalegrancanaria.com%2Fen%2Fcontact%2F|&#8221;][\/vc_column][\/vc_row][vc_row full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1680860883138{background-color: #282828 !important;}&#8221;][vc_column width=&#8221;1\/3&#8243;][vc_custom_heading text=&#8221;MAKE APPOINTMENT&#8221; font_container=&#8221;tag:h3|font_size:20|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">Contact us to make an appointment if you would like to see the property for sale by indicating your availability<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;REQUEST APPOINTMENT&#8221; style=&#8221;custom&#8221; custom_background=&#8221;#000000&#8243; custom_text=&#8221;#ffffff&#8221; shape=&#8221;round&#8221; align=&#8221;center&#8221; css=&#8221;.vc_custom_1680863388946{border: 3px solid #ecef81 !important;border-radius: 25px !important;}&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.propertyforsalegrancanaria.com%2Fen%2Fcontact%2F|&#8221;][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_custom_heading text=&#8221;OFFICE COUNSELING&#8221; font_container=&#8221;tag:h3|font_size:20|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221; link=&#8221;url:https%3A%2F%2Fwww.propertyforsalegrancanaria.com%2Fen%2Fcontact%2F|&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">If you need real estate counseling for your purchase request an appointment at my office in Playa del Ingles<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;CONSULTATION REQUEST&#8221; style=&#8221;custom&#8221; custom_background=&#8221;#000000&#8243; custom_text=&#8221;#ffffff&#8221; shape=&#8221;round&#8221; align=&#8221;center&#8221; css=&#8221;.vc_custom_1680863432848{border: 3px solid #ecef81 !important;border-radius: 25px !important;}&#8221; button_block=&#8221;true&#8221; link=&#8221;url:https%3A%2F%2Fwww.propertyforsalegrancanaria.com%2Fen%2Fcontact%2F|&#8221;][\/vc_column][vc_column width=&#8221;1\/3&#8243;][vc_custom_heading text=&#8221;TELEPHONE CONTACT&#8221; font_container=&#8221;tag:h3|font_size:20|text_align:center|color:%23ffffff&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text]<\/p>\n<p style=\"text-align: center;\">For information you can contact me by phone at +34 635632009 or my toll-free Italian number +39 3518711203<\/p>\n<p>[\/vc_column_text][vc_btn title=&#8221;CALL NOW&#8221; style=&#8221;custom&#8221; custom_background=&#8221;#000000&#8243; custom_text=&#8221;#ffffff&#8221; shape=&#8221;round&#8221; align=&#8221;center&#8221; css=&#8221;.vc_custom_1680863488493{border: 3px solid #ecef81 !important;border-radius: 25px !important;}&#8221; button_block=&#8221;true&#8221;][\/vc_column][\/vc_row][vc_row full_width=&#8221;stretch_row&#8221; css=&#8221;.vc_custom_1680860311295{background-color: #2f2e3a !important;background-position: center !important;background-repeat: no-repeat !important;background-size: cover !important;}&#8221;][vc_column][vc_single_image image=&#8221;9122&#8243; img_size=&#8221;large&#8221; alignment=&#8221;center&#8221; style=&#8221;vc_box_rounded&#8221; css=&#8221;.vc_custom_1680859671779{background-color: #1e73be !important;}&#8221;][\/vc_column][\/vc_row]<\/p>\n<\/div>","protected":false},"excerpt":{"rendered":"<p>[vc_row][vc_column][vc_custom_heading text=&#8221;Costs of Buying a Property in Gran Canaria: Prices, Taxes and Expenses to Consider&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221;][vc_column_text css=&#8221;&#8221;] Are you considering an investment property and are concerned about what expenses you will face? [\/vc_column_text][vc_custom_heading text=&#8221;Notary fees&#8221; font_container=&#8221;tag:h2|text_align:center&#8221; use_theme_fonts=&#8221;yes&#8221; css=&#8221;&#8221;][vc_column_text css=&#8221;&#8221;] The notary is a central figure in the buying process, responsible for drafting and certifying [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":38189,"parent":0,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"footnotes":""},"class_list":["post-41864","page","type-page","status-publish","has-post-thumbnail","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.4 (Yoast SEO v27.4) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Property Purchase Costs in Gran Canaria Notarial Deed ITP Land Registry<\/title>\n<meta name=\"description\" content=\"List of Gran Canaria Property Purchase costs you will face. 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