Buying a home in Fuerteventura in 2026: ITP at 6.5 %, the 5 % and 4 % tracks, IGIC on new builds and AJD

The price is agreed, the survey is done, the notary has a date. What most buyers in Fuerteventura still cannot say at that point is how much tax the purchase will cost — because the answer depends on three things they have not been asked yet: whether the home is second-hand or new, whether it will be their habitual residence, and who they are. In 2026 those three questions move the bill on a €190,000 flat between €6,460 and €15,200.

This is the numbers piece. Our colleagues at olgacaballero.com walk the legal road in their guide to buying property in Spain; here we take the Canary tax rules as they stand after the 2026 budget law, line by line, and run four buyers through them.

Which tax you pay depends on what you buy

A second-hand home is taxed under ITP, the transfer tax, which in the Canaries is collected by the Agencia Tributaria Canaria at rates the islands set themselves. A new home bought from its developer is taxed under IGIC — the Canary indirect tax that replaces VAT, explained in our IGIC guide — plus stamp duty (AJD) on the deed. The two never overlap: a purchase pays ITP or IGIC, never both.

Whichever applies, the taxable base is not simply the price. Since 2022 the base of a property purchase is the Catastro reference value whenever that value is higher than the price paid (article 10 of the state ITP law). Check it before you sign — it is public, and it decides more than the amount, as the section on the €200,000 line shows.

The buyer files. In the Canaries the self-assessment — Modelo 600 for ITP or AJD — is due within one month of the deed (article 39 of the regional consolidated tax text), one of the shortest windows in Spain; the state default elsewhere is thirty working days. The mortgage deed carries its own AJD, but since 2018 the bank pays it, not you.

Second-hand: 6.5 %, 5 %, and the 20 % bonus that makes 4 %

The general ITP rate in the Canaries is 6.5 % of the base (article 31.1.a). It falls to 5 % when three conditions meet: the home will be your habitual residence; the taxable base, garages and annexes in the same building included, is €200,000 or less — raised from €150,000 on 1 January 2026, and summed across all buyers; and at the date of the deed you own no other home, in full, bare ownership or usufruct — or you sell the one you own by public deed within two years.

On top of the 5 % rate sits a 20 % bonus on the tax (article 35), which brings the effective rate to 4 %. It applies to a first habitual residence, bought by someone who has never owned any property, who is either 40 or under with the buyers' income of the previous year at or below €46,455 — plus €6,825 for each person for whom the buyer claims the family minimum — or a woman with a protection order or judgment as a victim of gender violence. Until 2025 the bonus stopped at 35 years and €24,000; the 2026 budget widened both.

Three groups pay 1 % on a habitual residence with no price ceiling at all: large families (income up to €46,455, plus €18,200 for each child above the legal minimum), buyers with a recognised disability of 65 % or more, and single-parent families (both with income up to €46,455 plus €6,825 per family-minimum person), all three on condition that a previous home, where there is one, is sold within two years. Officially protected housing bought as a first habitual residence pays 0 %; so does the purchase option on a future habitual home up to €200,000, and a home bought at a judicial, administrative or notarial auction pays 5 % instead of 7 % under the same €200,000 rule.

New build: IGIC at 7 %, 5 % or 3 %, plus AJD

A new home bought from its developer carries IGIC at the general 7 % — unless the buyer qualifies for one of two reduced tracks written into article 38 of the IGIC consolidated text. The 5 % track mirrors the ITP one: habitual residence, base of €200,000 or less (€300,000 for a large family, €400,000 for a special-category large family), no other home or one sold within two years. The 3 % track adds one personal circumstance to those conditions — being 40 or under, a large family, a disability of 65 % or more, a victim of gender violence, a single-parent family, or a family income of the previous year at or below €46,455 (€61,770 in joint filing). Income alone qualifies: a 52-year-old couple earning €45,000 between them pays 3 % on their new home.

The buyer must hand the developer a signed declaration that the conditions are met, before or at delivery — on a purchase off plan, with the first instalment — and the declaration goes into the deed. Lose a condition later and the buyer, not the developer, files the difference with interest.

Stamp duty on the purchase deed is 1 % for operations subject to IGIC (article 36) — the notarial deed of a new home always is — and falls to 0.4 % when the buyer meets the conditions of the reduced groups: large family, disability, single-parent, protected housing, or the under-40 and income conditions of the 20 % bonus (article 37). A second-hand property bought from a business with the IGIC exemption waived also pays 1 %; a second-hand home under ITP pays no proportional AJD at all.

The reference value and the €200,000 line

The €200,000 ceiling is measured on the taxable base, and the base is the higher of price and reference value. So a flat bought for €195,000 whose reference value is €212,000 is taxed on €212,000 — and it is no longer a €200,000 home: the 5 % track closes, the 20 % bonus with it, and the bill is 6.5 % of €212,000, €13,780, instead of 5 % of €195,000, €9,750, or the €7,800 a bonus buyer would have paid. Two bills almost €6,000 apart, decided by a number on the Catastro's website. Check the reference value before the private contract, not after the notary.

The same base rule cuts the other way: if the reference value is lower than the price, the price is the base. There is no discount for buying above the reference value, only a penalty for buying below it.

Four buyers, four bills

• A non-resident couple buying a €250,000 second-hand apartment for holidays. No habitual residence, base over €200,000: ITP at 6.5 % — €16,250. No AJD. Modelo 600 within a month of the deed, then the Modelo 210 every year.
• A 38-year-old teacher earning €38,000, first home, second-hand, €190,000, reference value below the price. Habitual residence, base under €200,000, never owned property, under 40 and under the income line: 5 % with the 20 % bonus — €7,600, against €12,350 at the general rate.
• The same teacher buying a €190,000 new flat from the developer. IGIC on the 3 % track, €5,700, plus AJD at 0.4 %, €760 — €6,460. A 45-year-old on €60,000 buying the same flat as habitual residence pays the 5 % track and 1 % AJD: €11,400. A holiday buyer pays 7 % and 1 %: €15,200.
• A family of five — large family, general category — buying a €300,000 second-hand house as their home on €44,000 of income. ITP at 1 %: €3,000, where the general rate would take €19,500. On a new build of the same price the 3 % track still applies, because the ceiling for a large family is €300,000: €9,000 of IGIC plus €1,200 of AJD.

After the deed

The month runs from the notary's date, and the self-assessment goes to the Agencia Tributaria Canaria whichever tax applies; buyers who claim a reduced rate or the bonus file a certificate that the conditions are met. Miss the month without a letter from the administration and the state surcharge scale starts at 1 % plus 1 % for each full month of delay (article 27 of the General Tax Act).

"Habitual residence" means the IRPF definition: you move in within twelve months and live there for three years, barring the usual exceptions. Sell earlier, fail to sell the previous home within two years, or turn the flat into a holiday let, and the benefit is lost — you file a complementary self-assessment within a month of the breach, paying the difference with late-payment interest. The plusvalía municipal is the seller's tax, and so is the 3 % retention on a non-resident seller — although it is you who withholds it at the notary and pays it in on Modelo 211; the IBI and the waste charge start with your first full year. And once you live in the home, the Canaries return part of what you pay: the regional IRPF deduction for investment in a habitual residence is 5 % of the year's payments for incomes below €26,035 and 3.5 % up to €46,455 — 5.5 % and 4 % for buyers under 40 — on a base of up to €6,000 a year.

Where we come in

Our property desk in Caleta de Fuste and Costa Calma checks the reference value before you sign, tells you which track you qualify for and what it is worth, prepares the certificate and files the Modelo 600 inside the month, with your annual returns afterwards. See buy and sell assistance, or book a consultation — we reply within one business day.

Common questions

How much is the transfer tax on a second-hand home in the Canary Islands in 2026?
The general ITP rate is 6.5 % of the taxable base, which is the price or the Catastro reference value if that is higher. It falls to 5 % for a habitual residence with a base of €200,000 or less when the buyer owns no other home, and a 20 % bonus on that tax brings it to 4 % for a first home bought by someone aged 40 or under with income at or below €46,455.

What do I pay on a new build from a developer?
IGIC instead of ITP: 7 % as a rule, 5 % for a habitual residence with a base of €200,000 or less, and 3 % when a personal condition is also met, such as being 40 or under, a large family, a disability of 65 % or more, or a family income at or below €46,455. Stamp duty on the deed adds 1 %, or 0.4 % for the reduced groups.

How long do I have to file the Modelo 600 in the Canaries?
One month from the date of the deed, with the Agencia Tributaria Canaria, for both ITP and AJD. The state rule elsewhere is thirty working days. Filing late without a prior request from the administration triggers a surcharge of 1 % plus 1 % for each full month of delay.

Does the reference value matter if I pay less than it?
Yes. The taxable base is the reference value whenever it is higher than the price, so you pay tax on a figure you did not pay, and if that figure crosses €200,000 you lose the 5 % track and the 20 % bonus as well. Check the reference value before signing the private contract.

Facts verified in September 2026 (Canary consolidated text on ceded taxes, Decreto Legislativo 1/2009, articles 31 to 39 as amended by Law 9/2025 for 2026; Canary IGIC consolidated text, Decreto Legislativo 1/2025, article 38; state ITP law article 10 on the reference value and ITP regulation article 102; General Tax Act article 27; the Agencia Tributaria Canaria guide to ITP and AJD; the Garrigues and KPMG summaries of the 2026 budget law). Figures are worked examples; check your own before signing.