Gran Canaria, a beautiful place in the Canary Islands, is a popular destination for those seeking a warm climate, stunning beaches, and friendly locals. If you’re considering making the move to this paradise, it’s essential to understand the cost of living before you decide to pack your bags and hop on a plane.
When it comes to finding a place to live, it’s important to do your research and work with a reputable real estate agent who can help you navigate the local housing market. With the right guidance and a bit of patience, you can find the perfect home in Gran Canaria that suits your specific needs and wishes.
When it comes to taxes, Gran Canaria is a tax-friendly place to live. The Canary Islands are part of Spain, but they have their own tax regime that is more advantageous for residents. The tax rates for personal income, property, and inheritance are lower than those in mainland Spain. Additionally, the Canary Islands have a special economic zone status that offers tax incentives for businesses and entrepreneurs.
Transportation: Getting around Gran Canaria is relatively easy and affordable. The island has an extensive bus network that covers most areas, and the cost of a single ticket is around €1.50. Taxis are also available and can be a good option for shorter journeys.
Groceries: The cost of groceries in Gran Canaria is generally lower than in other parts of Europe. The island has a number of large supermarkets where you can buy everything you need at reasonable prices. A weekly shop for a couple can cost around €50-€150.
Healthcare: If you’re moving to Gran Canaria, it’s important to have health insurance in place. While the public healthcare system is available to all residents, it can be a lengthy process to get treatment. Private healthcare options are also available for those who want access to more specialised care.
Utilities: The cost of utilities in Gran Canaria is generally lower than in other parts of Europe. You can expect to pay around €50-€250 per month for electricity, water, and gas. Internet and phone services are also affordable with packages starting at around €30 per month. It’s important to note that some apartments may have additional fees for community maintenance, which can vary depending on the building and location.
Entertainment: There are plenty of things to see and do in Gran Canaria, including hiking, beach activities, and visiting historical sites. A cinema ticket costs around €8, while a trip to a theme park costs around €30-€40.
Education: If you have children, you’ll need to factor in the cost of education. While there are public schools available, many expats choose to send their children to international schools. Fees for international schools can vary, but you can expect to pay around €500-€1500 per month.
Miscellaneous expenses: There are always unexpected expenses that can arise when you move to a new country, so it’s important to have some savings set aside. This could include things like visa fees, language classes, or cultural events.
One thing to keep in mind when considering the cost of living in Gran Canaria is the island’s tourism industry. While tourism can bring many benefits to the local economy, it can also drive up the cost of living for residents. This is especially true during peak tourist season, when prices for accommodations and other services tend to be higher. It’s important to plan ahead and budget accordingly if you are moving to Gran Canaria during the high season.
Gran Canaria offers a wide range of options for residents, from beach activities to hiking in the mountains, as well as cultural events and festivals throughout the year. However, some of these activities may come with a cost. For example, entrance fees to museums, theme parks, and other attractions can add up quickly. It’s important to consider these costs when budgeting for your new exciting life in Gran Canaria.
