Sorello Guides

Buying and owning a home in Arrecife

The appraised average of 1.946,7 €/m² is close to the ordinary Spanish level. Arrecife is large enough for several distinct sub-markets to exist inside one Las Palmas municipality. Almost nothing here is a second home: 10,43 % of dwellings are not somebody's main residence.

The one-off cost at signing

The Canary Islands rate is 6,5 %, around the middle of the Spanish range. The Canary Islands transfer tax applies to resale purchases in Arrecife; a new build is charged VAT and stamp duty instead.

Transfer tax on a resale purchase, at three illustrative prices
Purchase priceTransfer tax
200.000 €13.000 €
350.000 €22.750 €
600.000 €39.000 €

The three prices are round illustrative figures chosen to bracket the ordinary range, not measurements of this market.

The reduced rates, stamp duty and the deed checklist for Canary Islands

How it compares

Judged only against Las Palmas, the rural property-tax rate here is the fourth lowest in the guide.

Measured against the whole batch, that urban property-tax rate sits in the second-cheapest twentieth.

Of the Las Palmas municipalities covered here, this one comes third highest on tax rate on construction work.

Taking every municipality covered here together, the share of dwellings that are not a main residence is in the third-cheapest twentieth.

Set against the other Las Palmas municipalities in this guide, it has the fourth highest population.

Against the rest of the province

On a national view, its average cadastral value per home falls into the top quarter.

Take Las Palmas alone: among the municipalities here, its average cadastral value per home is the second highest.

Put beside the rest of the country, its appraised value of a home under five years old belongs to the band just above the bottom quarter.

Compared with the rest of Las Palmas in this guide, it sits second highest on share of the urban register that is housing.

Measured against the whole batch, that appraised value of an older home sits in the lower middle of the range.

How it compares

Set against the other Las Palmas municipalities in this guide, it has the fifth highest total dwelling stock.

Country-wide, that count of registered residential units is one of the band just above the middle.

On year of the last cadastral revision it is the second highest of the Las Palmas municipalities this guide covers.

Across the country, the number of urban cadastral units here belongs to the exact middle of the range.

An ageing cadastral register

Arrecife has not revalued since 2008, which is long enough for the gap to market values to be substantial.

The tax on construction work is 3,2 %, so a refurbishment budget should carry it.

The yearly bill, and why it is small here

Rural land is charged at 0,3 %, which is nominal.

Arrecife levies 0,4 % on urban property, one of the lowest IBI rates you will meet.

Cadastral values in Arrecife average 77.164 € per dwelling, an ordinary base.

On 180.000 € of cadastral value the 0,4 % rate yields 720 €, on a register that has not been refreshed in a long time.

The cadastral value in this example is a round illustrative figure, not the cadastral value of any particular property here. Ask for the last IBI receipt: it states the real one.

What the market looks like

The figure comes from 185 appraisals in the quarter.

The average appraisal in Arrecife is 1.946,7 €/m², an ordinary Spanish level.

Homes under five years old are appraised at 2.179,6 €/m² against 1.941,6 €/m² for older stock — a modest premium.

A stock of homes people actually live in

Almost the whole register is housing: 24.131 residential units out of 37.230 urban ones.

Only 10,43 % of Arrecife dwellings are not somebody's main home, so the market is driven by people who live here.

At 26,05 % of main homes rented, Arrecife has a rental sector large enough to set the tone of the market.

How many homes change hands

631 home sales went through the notaries in Arrecife in the year — a quiet market.

Third quarter was the busiest quarter and Fourth quarter the thinnest, but the spread was mild.

With 24.131 residential units on the register, that is moderate turnover of the existing stock.

Notarised home sales by quarter, 2025
QuarterSales
First quarter152
Second quarter152
Third quarter179
Fourth quarter148

Related guides

Sources and licences