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BUYING PROPERTY IN THE

CANARY ISLANDS

YOUR GUIDE TO PURCHASING PROPERTY IN THE CANARY ISLANDS WITH GOLDACRE ESTATES
YOUR PERSONALISED GUIDE TO SECURING THE PERFECT HOME WITH GOLDACRE ESTATES

At GoldAcre Estates, we are committed to helping you find the perfect property, whether you're a local resident of the Canary Islands or an international buyer looking to purchase property overseas. Our experienced and friendly consultants will guide you through every step of the buying process, ensuring a seamless and stress-free experience.

LOCAL PURCHASERS

If you're a local buyer, we can assist you in upgrading or downsizing your property based on your current needs. If you're considering relocating to another island within the Canaries, we're here to help with both the purchase of your new home and the sale of your existing property.


FIRST-TIME BUYERS

For first-time buyers, we understand that purchasing a property can feel overwhelming. Our team is well-versed in the financial aspects of property purchasing and can help you navigate mortgage options and budgeting, ensuring you are fully informed before making your decision.


OVERSEAS BUYERS

For international buyers, the Canary Islands are renowned as a world-class holiday destination, making them an attractive location for purchasing property. Whether you're looking for a holiday home, an investment property, or even a new permanent residence, the Canaries offer a unique blend of sunshine, safety, and laid-back living. With over 3,000 hours of sunshine annually, low-cost flights connecting to the rest of Europe, and a welcoming lifestyle, the Canary Islands are becoming increasingly popular among property buyers.

Buying property abroad can feel like a daunting task, but at GoldAcre Estates, we've built our reputation on delivering the best client experience possible. From helping you find the right property to managing the entire purchase process, we'll ensure that everything runs smoothly —even after you've moved in—.


WHY CHOOSE GOLDACRE ESTATES?

Our mission is to provide comprehensive support throughout the property buying journey. From the initial search to finalising your purchase, we're by your side every step of the way. And once you've moved into the home of your dream in the Canary Islands, our team is still here to assist you with any post-purchase needs.


Read on to explore how you can purchase a home in the Canary Islands and discover how GoldAcre Estates can help you find the property that's perfect for you.

Purchasing with 
GoldAcre Estates

GoldAcre Estates was formed to help you find your perfect home and look after you right the way through the ​purchase process. We have developed a concept in property buying that will look after you and help you deal with ​those little unexpected situations.

Read how we can smooth the buying process so you can enjoy the house hunting.

All the islands offer something unique yet still provide the Canarian lifestyle that they are famous for. Read a little bit ​about each island and why they are so popular.

We are fortunate to live in a constant sunny climate just off the coast of the African continent. However, that means ​property in the Canaries is designed quite differently from one in Sweden for example!

Canary Islands Financial Guide and Understanding all the financial implications is important and something that we atGoldAcre Estates take very seriously.

No, but you will require an NIE number. NIE is an abbreviation for 'número de identidad de extranjero', which ​translates as 'Identification number for foreigners'.

The main purpose of the NIE in Spain is for fiscal control.

GoldAcre Estates can help you obtain this, of course legislation is always changing, so email us at ​​info@goldacreestates.compara obtener la información más actualizada.

A Notary is a person who has had special training and passed examinations to qualify them to cover a large range of ​legal matters, not just property ownership transfers.

Once a document is signed by a Notary, he or she becomes legally responsible and is duty bound to enter the details ​into public records.

Officially, the Canary Islands are a Spanish archipelago, (located just off the northwest coast of mainland Africa), thus ​having the status of being part of Spanish territory. Politically, the Canary Islands are a 'Spanish Autonomous ​Community' and an 'Outermost Region' of the European Union.

The Canary Islands have 13 seats on the Spanish Senate, 11 of which are elected, as well as a president of the Canary ​Islands.

Listed as being an EU Outermost Region means that they are outside the European Union Value Added Tax (VAT) area ​so the islands are allowed to set their own taxes which are very low compared to the rest of Europe.

The Canary Islands are the most populated and economically strongest territory of all the outermost regions in the ​European Union.

Geographically the islands are part of the African Continent.

Once you have chosen your 'place in the sun' and have acquired an NIE number, you can assign 'Power Of Attorney' ​(POA) to your lawyer, who is allowed to act on your behalf for the sale of that property.

You do not have to be on the islands to arrange 'Power of Attorney', GoldAcre Estates can explain how to arrange a ​POA with an independent lawyer. You can also arrange for a more comprehensive POA which will cover more than just ​the purchase of property.

This is a difficult one to answer as it depends on the price, size, type and location.

However, each client who decides to purchase through GoldAcre Estates will receive a basic outline in writing of the approximate costs involved in maintaining that their new home for one year. This will include taxes/rates, insurance, water electric and any other cost peculiar to that property. If a mortgage is involved, then we will of course also advise you on the annual cost to service the loan.

Once you have decided to purchase, you will be required to sign a "Reservation Contract" and leave a reservation ​payment.

The contract will be in Spanish and English. At the time of signing the contract and placing a reserve, the property will ​be taken off the market and the owner informed as to your intention to purchase. At the time of reserving the ​property, we will advise you when the 'Purchase Contract' should be signed; usually about 28 days after signing the ​reservation contract and of the amount to be paid at this time.

Yes. You will, of course, have to apply for a Spanish mortgage, and if you meet the requirements of the lender for the ​loan, then a mortgage will be offered to you.

The process is similar to the rest of Europe, but for a more detailed explanation on Spanish mortgages, please read ​our guide.

This can be done by cash or by credit card. Most people opt for paying by credit card as this is safer than carrying cash and the company issuing the card provide various security protection.

If you have a Spanish bank account then you can pay by a direct transfer. If your home bank is not in Spain you can still pay by transfer but this can be a lengthy process and could delay or even lose you the sale.

Electric and water in the Canary Islands is metered, and you pay for the amount consumed. The bills for both can be ​paid at a local office or by direct debit.

Occasionally some developments with a community are billed for the whole development and the community divide the bill between the residents, which is paid to the community administrator as part of the communal rates.

EXPLORE OUR COMPREHENSIVE GUIDE AND EXPERT ADVICE TO MAKE INFORMED DECISIONS WHEN BUYING PROPERTY IN FUERTEVENTURA, WHATEVER QUESTIONS YOU MAY HAVE PLEASE JUST ASK OUR EXPERTS.

DISCOVER ESSENTIAL TIPS, PROPERTIES FOR SALE, AND EVERYTHING YOU NEED TO KNOW ABOUT BUYING, LIVING, HOLIDAYING AND RENTING IN THE CANARY ISLANDS, INCLUDING LEGAL AND TAX CONSIDERATIONS.

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