Buying property in Fuerteventura as a foreigner: process and costs
Nearly 7 out of 10 property buyers in Fuerteventura come from outside Spain — the most common profile is 40 to 50 years old, buys a flat or apartment worth €100,000 to €150,000, and pays in cash, without a mortgage. Here's what you need to know before taking the step.
The NIE, the first procedure
Without a Foreigner Identification Number (NIE) you can't buy property in Spain. You apply for it at a Spanish consulate in your home country, or already in Spain at a police station or foreigners' office — it's worth starting as soon as you're serious about buying, because it can take weeks.
Which tax you pay depends on whether the property is new or resale
Most purchases in Fuerteventura are resale properties, where you pay ITP (Property Transfer Tax) at 6.5% — one of the lowest rates in Spain. If you buy new-build directly from a developer, you pay IGIC instead (the Canary Islands' equivalent of VAT) at 7%, plus roughly 1% in Stamp Duty (Actos Jurídicos Documentados). They're not the same thing: it depends on the type of property, not a choice you make.
Mortgages as a non-resident
Spanish banks typically lend up to 60-70% of the appraised value to non-resident buyers — budget for a 30-40% deposit and for proving income from your home country.
Notary, registry and gestoría
Adding up tax, notary, registry and gestoría fees, the total comes to roughly 8-12% of the purchase price.
If you're going to rent it out
Non-resident income tax (IRPF) is 19% on the profit if you're from the EU, and 24% if you're not.
At ClubFuerte we're not a gestoría or tax advisory firm, but we know the ground — literally — and we only work with real estate agencies in the north of the island that we've personally verified.
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