Useful Information when Buying Property in Fuerteventura

Buying Property in Fuerteventura: Complete Guide, Costs & Process

Purchasing a property in Fuerteventura is an exciting opportunity, whether you are looking for a permanent residence, holiday home, rental income, or investment. Understanding the process, costs, and legal requirements will help ensure a smooth and secure purchase.

What Will the Property Be Used For?
Permanent residence
Holiday home
Rental income
Investment
Setting Your Budget

Before starting your search, it is important to understand your available capital and overall budget.

Non-Spanish residents can typically obtain a mortgage of up to 60–70% of the property value (up to 80% for residents), usually over a period of 15–25 years. This is subject to financial status, income, and the age of the applicants.

In addition to the purchase price, you should allow approximately 10%–12% extra to cover taxes and associated costs.

Types of Property in Fuerteventura

Apartment
Traditional finca
Villa
Bungalow
Duplex
Townhouse
Land
Commercial property
Your Property Requirements

Be realistic and prioritise your needs.

Consider:

Number of bedrooms and bathrooms
Garden or plot size
Swimming pool (private or communal)
Sun terrace or balcony
Parking or garage
Choosing the Right Location

Location is key when buying property in Fuerteventura:

Beach, mountains, tourist resort, countryside, or residential area
Distance to town centre, supermarkets, schools, and medical facilities
Transport links and accessibility
Buying a Rental Property
Long-term rentals: Best suited to residential areas or towns
Holiday rentals: Popular tourist areas with strong demand and nearby facilities

⚠️ Note: Holiday rentals in the Canary Islands require a tourist licence (Vivienda Vacacional) and must comply with local regulations.

The Buying Process in Spain

Buying property in Fuerteventura follows a structured process:

Reservation & Deposit

Once you have found your ideal property, you will usually pay a reservation deposit (typically €3,000–€10,000 or a percentage of the price) to take the property off the market.

A private purchase contract (Contrato de Arras) is then signed, with a deposit of around 10% of the purchase price.

Legal Checks

It is strongly recommended to appoint an independent lawyer to:

Verify ownership and title deeds
Check for outstanding debts or charges
Confirm planning permissions and legal compliance
Ensure taxes and utilities are up to date
NIE Number (Foreigner Identification Number)

A Número de Identificación de Extranjero (NIE) is required to buy property in Spain. This is issued by the Spanish National Police and is essential for signing the title deeds and completing the purchase.

Bank Account

You will need a Spanish bank account (resident or non-resident) to manage payments, taxes, and ongoing expenses.

Completion at the Notary

The final stage takes place at the Notary:

The remaining balance is paid
The Title Deeds (Escritura) are signed
Ownership is officially transferred

You can then take possession of the property.

Completion Arrangements

You may attend completion in person or grant Power of Attorney to a lawyer or trusted representative to complete the purchase on your behalf.

Costs of Buying Property in Fuerteventura

The total cost is typically 10%–12% of the purchase price, including:

6.5% ITP (Transfer Tax) for resale properties
7% IGIC + approx. 0.75–1% stamp duty for new properties
Notary fees
Land Registry fees
Legal fees (approx. 1%–1.5%)
Ongoing Property Costs
Community Fees (Comunidad de Propietarios)

Monthly fees covering maintenance of communal areas such as:

  • Swimming pools
  • Gardens
  • Entrances
  • Lifts and parking
  • IBI (Property Tax)

An annual tax paid to the local council based on the cadastral value.

Basura

Annual rubbish collection tax.

Utilities

Water and electricity costs paid to local providers.

Non-Resident Property Tax

Non-residents may need to pay an annual tax, even if the property is not rented.

Wealth Tax (Impuesto sobre el Patrimonio)

Depending on your total assets, you may be required to submit an annual declaration.

Why Buy Property in Fuerteventura?

Fuerteventura offers:

  • Year-round sunshine and beautiful beaches
  • Strong rental potential in tourist areas
  • A relaxed lifestyle with excellent amenities
  • Attractive property prices compared to mainland Spain

With careful planning and the right professional support, buying property in Fuerteventura can be a rewarding investment and lifestyle choice.