Buying property in Arguineguín: process, taxes and holiday-let rules

By Terje Moy, editor · Published 25 October 2026

The purchase itself is routine with an independent lawyer and a notary. The traps are the taxes that differ between resale and new homes, and the Canary holiday-let law of December 2025, which restricts renting a flat to tourists.

Buying in Arguineguín works like buying anywhere in Spain: an independent lawyer, a NIE, a notary who prepares the deed, and tax paid by the buyer. The difference is that the Canary Islands have their own taxes. A resale home bears ITP at 6.5 % (the general rate), while a new home bought from a developer bears IGIC at 7 % unless reduced rates apply, plus a stamp duty on the deed. The part that catches buyers out is rental: since December 2025 a new Canary law restricts holiday lets, and a holiday-let status that exists today does not pass to the next owner.

This page is an overview of the process and the main taxes, drawn from official sources. It is not legal or tax advice, and rates and conditions change, so confirm the figures with a lawyer and with the Agencia Tributaria Canaria before you sign. If you are comparing where to live first, read Arguineguín, Puerto Rico or Puerto de Mogán and where to stay in Arguineguín.

The process, step by step

1. Appoint an independent lawyer. GOV.UK recommends one who specialises in Spanish land law and works only for you, not for the agent or developer. Check registration with the local bar association (Colegio de Abogados) and professional indemnity insurance. Do not hand over money or sign papers before taking independent legal advice.
2. Get a NIE. It is needed for any fiscal transaction, including buying property. Buyers from abroad can apply through a Spanish consulate or a representative; see NIE, residency and the padrón.
3. Have the property checked. Your lawyer should confirm who owns it, whether any debts or charges are registered against it, and that its licences and community statutes allow what you plan to do. Ask for translations of anything in Spanish.
4. Sign at the notary. The notary prepares the contract and issues the public deed. As buyer you choose the notary. The notary has a duty to give free, impartial advice, and when a signing date is set you have three days beforehand to visit and ask questions.
5. Pay the tax within one month. The buyer files the self-assessment (see below) and the deed is then registered in the land registry.

If you need a mortgage, GOV.UK advises comparing products, checking with the Bank of Spain that the lender is authorised, and noting that if repayments fail the bank can repossess and, in case of negative equity, pursue your UK assets through a European Enforcement Order. You have a 10 working-day period after the binding offer in which to ask questions.

Resale homes: ITP at 6.5 %

When you buy from a private individual, you pay ITP (impuesto sobre transmisiones patrimoniales), and the buyer is the person liable. The Canary tax agency's guide lists the general rate for urban and rustic property at 6.5 %. A 5 % rate applies if the property will be your main home and you meet conditions in the Canary tax law; reduced rates of 1 % and 0 % apply to large families, single-parent families, buyers with disabilities and protected housing. A discount for buyers under 35 is not available to a non-resident, according to the tax agency's own answer. Ask your adviser which rate fits you, because a holiday-home buyer pays the general rate.

To pay, you submit the deed (original and a copy) with form 600 within one month of signing. Late filing brings surcharges. On a €250,000 resale at 6.5 %, the tax would be €16,250, before notary, registry and legal fees.

New homes: IGIC and stamp duty

When you buy a new home from a developer or other business, the sale is subject to IGIC, not ITP. Under the Canary IGIC law, the default is the general rate of 7 %. A reduced rate of 5 % applies if it will be your main home, the price is €200,000 or less, and you do not own another home (or sell it within two years). A 3 % rate applies to main homes when the buyer meets extra conditions such as being aged 40 or under, belonging to a large family, or other listed circumstances, and the price is within the limits. Protected housing is taxed at 0 %. Second-home and holiday buyers pay 7 %.

On top of IGIC, the notarial deed carries stamp duty (AJD) of 1 % where the transfer is subject to IGIC. A mortgage deed also carries 1 %, and since November 2018 the lender, not the borrower, is the taxpayer for that. A declaration of new construction is taxed at 0.75 %.

The holiday-let rules that change the maths

Many buyers in this part of Gran Canaria expect to cover costs by renting to tourists. Law 6/2025 on the sustainable tourist use of homes, published in the Canary official bulletin on 12 December 2025, changed the rules for the whole archipelago. In summary:

• Tourist use of a home is allowed only where the municipal planning rules expressly allow it. Planning must reserve at least 90 % of residential floor area for exclusive residential use.
• Homes to be rented to tourists must generally be at least ten years old (five on El Hierro, La Gomera and La Palma and in municipalities classed as demographic-challenge areas), unless the local planning rules lower the limit.
• If the authorities declare an area a "tight" residential market, new holiday lets there are suspended for as long as the declaration lasts.
• If a building is under the horizontal-property regime, tourist use cannot be authorised where the community's constitutive title, statutes or an owners' meeting decision rule it out.
• Where the planning rules say nothing, the law's default cap is 10 % of the residents on the padrón of each settlement.

Whether Mogán has approved its own ordinance for tourist use is a question for the council and your lawyer. If your plan is a long-term let to a resident tenant, the holiday-let law does not apply, though other tenancy rules do.

Timeshare is a different product

Anfi del Mar is built around timeshare. Under Law 4/2012 you have 14 days to withdraw, no money may be paid during that period, contracts are limited to 50 years, and a timeshare may not be sold as an investment. Contracts of indefinite term signed under the old law were declared void by the Supreme Court in 2015. Read timeshare in Gran Canaria: your rights before you sign before you discuss a contract, and see Anfi del Mar for what the resort is.

Residence is not included

Buying a home does not give you the right to live in Spain. The Golden Visa that once offered residence for property investment was abolished from 3 April 2025 by Organic Law 1/2025. If you want to live here, your route is a residence status of your own; see moving to Arguineguín. A British owner who is not resident is still subject to the 90 days in any 180: UK citizens and the 90/180-day rule. Running costs once you own are in the cost of living in Arguineguín.

Pitfalls to avoid

• Using the agent's or developer's lawyer. GOV.UK says to choose one who works only for you.
• Skipping the notary meeting. You have a legal right to impartial advice from the notary before signing.
• Buying for the holiday-let income before checking the planning and community rules.
• Forgetting the one-month tax deadline.
• Paying in cash without a receipt, or to a person who is not a regulated professional. GOV.UK has separate guidance on property fraud.