Cost of Living On The Canary Islands- $1300 in Las Palmas, Gran Canaria

The sunsets at Las Canteras golden sand beach are stunning, and I loved watching them either from my rooftop terrace or from the beach. 

The boardwalk of Las Canteras beach is bustling with people during sunset as locals and foreigners mingle in the streets and bars. Life happens outside in Las Palmas. As the weather is warm all year round, people love to go out and socialize.

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I’m a nomad from Austria with a passion for exploring new countries and cultures. I’ve traveled to more than 40 countries and lived in 7 of them. I’ve been an expat in Spain, Malta, Mexico, Chile, Portugal, and the UK. Spain has always been my favorite European country to live in, and especially the Canary Islands won my heart. In 2018, I was an expat living in Las Palmas, the capital of Gran Canaria, for six months. Gran Canaria was a great choice; the warm temperatures all year round allowed me to trade the cold European winter for sunshine and beach.

This guide will cover all the essential topics (where to live, the best islands for expats, and the non-tourist, real-life cost of living) to consider when living in the Canary Islands as an expat.

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Expat Life On The Canary Islands

The Canary Islands are a group of 8 main islands located in the Atlantic Ocean off the coast of Morocco. While the Canary Islands are roughly 60 miles or 100 km from Africa’s Saharan coast, the islands are an autonomous community of Spain and part of the European Union.

While technically part of the EU, the Canaries are well over 1,000 miles from the southernmost part of mainland Europe. Additionally, the Canary Islands enjoy a special economic and duty-free status driving down the cost of living. With affordability and mild year-round temperatures and climate (average summer 25 degrees Celsius, winters ~16 degrees), the Canaries are ideal for tourists, expats, and digital nomads who want a taste of Spain, mixed with a laid-back island lifestyle, but with the comfort and convenience of Europe.

Often thought of as a beach tourist destination, with over 12 million visitors annually, the Canary Islands offer much more than beach resorts. There are eight main islands to choose from in the archipelago, providing plenty of variety in scenery and micro-climates. The weather is pretty much always outstanding, the food is excellent, and you’ll never run out of things to do, even if it’s just spending the day on a beautiful beach relaxing!

There are eight main Canary Islands to choose and each island has its own unique set of pros and cons. However, Gran Canaria is getting the most recent acclaim and an expat and digital nomad hotspot. Las Palmas is a vibrant city with arguably the best restaurants, shopping, and active social life.

However, Gran Canaria is more than just shopping, snacks, and sunny beaches; Gran Canaria has the best nature and outdoors of the Canary Islands with a varied terrain of colorful deserts, mountain vistas, and lush green areas.

Las Palmas de Gran Canaria is a beautiful island that offers something for everyone. The third-largest island in the Canaries is divided into three regions:

• The capital city of Las Palmas dominates the north.
• The center is more wild, rural, and hilly.
• The south is known for its beaches.

The resort towns are in the south, but if you’re looking for a more quiet and relaxed lifestyle, you’ll find it farther north near the forests and rolling hills. Regardless of where you live on the island, you’ll be able to enjoy everything Gran Canaria has to offer.

Tenerife is the largest island, has the highest population, and sees the most tourist traffic as a famous travel destination. Tourism is both good and bad, as it means there is plenty to do, but it also means the biggest crowds and higher prices than on some other islands.

Most of Tenerife’s beaches are volcanic black sand beaches, except for Playa de Las Teresitas. Playa de Las Teresitas is an artificial beach with imported white sand from the Sahara desert.  

INSIDER TIP: The Canary Islands has two capital cities- Santa Cruz de Tenerife and Las Palmas are the capitals of Tenerife and Gran Canaria, respectively. Both cities are considered capitals of the Canary Islands and trade-off hosting the Presidential office every four years.

Fuerteventura is a smaller, less-populated island still popular with both expats and tourists. Fuerteventura boasts 10 Blue Flag beaches and some of the best beaches for water sports in Europe. If surfing is not your vibe, Fuerteventura’s crystal turquoise waters allow surfing, sailing, windsurfing, kitesurfing, and freediving.

Interestingly, Fuerteventura is the second-largest Canary Islands, but its tourist industry developed much later. Consequently, it doesn’t have as many amenities and conveniences found on some of the more popular islands.

The Canary Islands are a Spanish archipelago located just off the coast of Africa. The Canary Islands are a popular destination for expats and retirees because they offer the benefits of a comfortable life in Europe but with the beaches, mild winters, and friendly locals of a laid-back island lifestyle.

Additionally, the cost of living on the Canary Islands is much cheaper than in mainland Spain, making it an attractive option for those on a budget.

The Canary Islands are a great place to live for many reasons. Aside from the affordability, renowned sunshine, and beaches, the islands include gorgeous hiking trails, the world’s 3rd highest volcano, and stunning national parks.

The Canaries aren’t known for their cultural heritage in the same way as mainland Spain, but this doesn’t mean islands are not without their cultural sites. Las Palmas’ historic Vegueta neighborhood is a UNESCO World Heritage site with distinctive Canarian architecture unlike any other old town in Europe.

Finally, the Canary Islands are home to some delicious food. The Spanish influence is evident, but the Carnary island were the literal and cultural crossroads between Africa, Europe, and America for centuries. Traditional Canarian food is a mash-up of those flavors into a simple but delicious cuisine. 

Seafood is a big thing here. You’ll find loads of fresh meat, fruit, and veg from the local markets, along with a range of interesting regional wines to wash it all down.

The Canary Islands are an excellent place for expat retirees, as they offer a high quality of life at a fraction of the cost compared to other European destinations, making it a popular choice for expats looking to live in the sunshine year-round and avoid the winter chill.

The Canary Islands have a large expat community, with the hotspots being the usual suspects of Tenerife and Gran Canaria leading the pack. On these two islands, you’ll have the easiest time finding people to socialize with and get help from if needed. But don’t discount Lanzarote and Fuerteventura, which have strong expat communities, as well. 

Even smaller islands like El Hierro and La Gomera have expat communities to join; though the numbers are more muted, the bonds are just as strong.

If you’re considering living in the Canary Islands, finding fellow international expats will not be an issue. If you want an active social life, you can easily find like-minded expats to build a social circle around.

The cost of living in the Canary Islands is considerably lower than in the United States. Housing, food, and transportation are much more affordable on the islands. While some tourist areas are more expensive than others, overall, it is a very affordable place to live.

Overall, it is cheaper to live in Las Palmas de Gran Canaria when compared to other Spanish cities. If you compare the cost of living in Barcelona vs. Las Palmas, you will find much cheaper rent and property prices.

In reality, the Canary Islands cost of living is not as high as many people think. To get a non-lucrative residency visa to stay in Spain long-term, you only need a passive income of €2,151 per month. This budget will easily cover your costs for a comfortable life on whichever island you choose.

Life here does have some downsides and expats moving to the Canary Islands should balance the benefits with the drawbacks. Let’s examine some of the less obvious Pros and Cons of living in the Canary Islands.

Living In Las Palmas Spain As An Expat

There are loads of places to explore and things to do in Gran Canaria. The island’s south tends to be hot and dry, perfect for the beach and enjoying the ocean. The rugged north attracts the more adventurous tourists. In comparison, the center has stunning mountain peaks and traditional villages.

My favorite aspect about Las Palmas de Gran Canaria is that even though it’s such a small island, it has so much diversity of nature and climate. These different landscapes are only about a one-hour drive from the capital Las Palmas, making it easy to get there for a day trip.

Gran Canaria is a popular destination for European tourists. There is loads of tourism infrastructure, including many restaurants and bars that cater to tourists. Las Palmas is especially popular among surfers, as Las Canteras beach is one of the best places for surfing and bodyboarding in Europe.

Las Palmas de Gran Canaria is a major Spanish city with a population of almost 640,000 that swells to over 1,000,000 during the peak tourist season. It is the largest city in the Canary Islands and the 9th biggest city in Spain. 

Las Palmas is popular with digital nomads and expats, even as a tourist city. Expat life in Las Palmas is remarkable. The community of expats, the proximity to a stunning urban city beach, and a delicious food scene add up to a high Quality of Life at surprisingly affordable prices for a “tourist destination.”

Since most of the tourism happens further south on the island, the city has kept its local charm, and the cost of living in Las Palmas is still relatively low, even though prices have gone up in recent years due to the growing expat community.

After work, my social life usually involved heading to the beach, some exercise, or meeting friends for a drink. Thanks to other co-workers, expats, and digital nomads I became friends with, I had an active social life.

The expat community in Las Palmas is quite extensive, and it’s easy to make friends when going out for tapas or even just hitting the beach.

Cost Of Living in Las Palmas, Spain

The cost of living on the Canary Islands is surprisingly low for a tourist destination. A single person could enjoy a high standard of living on a $1300 per month budget, roughly equivalent to the price of living in Split or Zagreb, Croatia. There are plenty of outdoor activities to enjoy, and the island has a diverse culture. Plus, it’s easy to hop between islands for day trips when you get tired of one! 

Las Palmas’ low cost of living, laid-back island life, and the mild climate attract people from all around Europe. The increased popularity caused a spike in rental prices over the past ten years.

Despite the increase in prices, Las Palmas is still more affordable than many Western European cities or even other major Spanish cities like Madrid, Barcelona, Valencia. Although the cost of living index for Las Palmas puts it about more expensive than Granada.

The lower cost of living in Las Palmas can save you nearly $27,000 a year compared to a medium-cost city in the US (Portland). 

Look at the cost of living comparison below representing the Top 4 essential expenses in the US: housing, food, transportation, and healthcare. These 4 expenses make up 68% of the average living costs in a major city.

Housing Costs Living In Las Palmas

Las Palmas rental costs can seem high at first sight, but depending on your effort and willingness to actively search, you can find places for a fantastic value for their price. I stayed in a fully furnished shared two-bedroom apartment in Las Palmas near Las Canteras beach. The flat included 24-hour security and a rooftop terrace with a sauna, hammam, and a little playground for kids. Watching the sunset dip into the Atlantic Ocean from my lovely rooftop terrace was my little heaven on earth.

I was pretty lucky to find this gem of an apartment, and I paid 450 EUR (500 USD) monthly rent for my room. In my opinion, the area around Las Canteras is the best place to stay in Las Palmas. You will be near the best city beach and a long promenade with numerous restaurants, cafés, and bars. The northern part of Las Canteras beach is the island’s most famous surf spot with hip cafés and surf rental shops.

• A typical one-bedroom apartment near Las Canteras beach costs around 800 EUR (890 USD) per month. Sea view from the apartment can significantly increase the monthly rent to over 1200 EUR (1340 USD).
• The average price of a two-bedroom is $900-$1000 for a ~970 square foot / 90 sqm furnished flat in the La Isleta neighborhood near Las Canteras beach.
• Average price of a studio (fully furnished ~375 square feet / 35 sqm) $550

INSIDER TIP: Finding An Apartment In Las Palmas – The best way to find housing in Las Palmas is through Facebook sites such as “Canary Islands Digital Nomads & Remote Workers.” It’s easier to look for an apartment once you’re already in Las Palmas. Consider getting an Airbnb for the first couple of weeks, and when you start getting to know other expats or locals, you might meet someone who can help you find a place to stay.

Thanks to a temperate year-round climate cutting heating bills, the cost of monthly utilities for an 85m2 apartment in Las Palmas ranges from $100 to $175. Expats should budget an average monthly utility bill of $125 to cover electricity, home internet, heating, cooling, water, and garbage.

Short-term rentals are the best option for Americans or other non-EU citizens subject to the 90-day Schengen limits. Just note that peak summer months mean peak tourist rental rates. Rental property is easier to find during the winter months, but some landlords require a long-term lease.

If you are thinking of moving or retiring in the Canary Islands for the long term, you’ll be better off looking for property to purchase potentially.

Vegueta, the old town of Las Palmas, is a UNESCO World Heritage site. The neighborhood is renowned for its architecture, shopping, and a fantastic selection of places to eat out. However, it is pretty far away from the beautiful beach in Las Canteras.

And one of my highlights of living in Las Palmas was the proximity to the beach and the laid-back surf vibes in that area.

Food Costs On The Canary Islands

You can find a wide variety of international cuisine to choose from in the resort areas of Tenerife or Las Palmas. But expect the tourist prices to match. If you venture outside these areas, you can find terrific value for your food budget. Tapas dishes start at just $1.20 USD in many cases, so you can enjoy a delicious meal without breaking the bank.

You’ll generally pay a slight premium for food shopping if you buy in the smaller shops rather than, the larger supermarkets in the main towns. Alcohol is very cheap, thanks to duty-free status – a bottle of local beer costs around $1.20 USD, while a cheap wine retails for around $3 USD per bottle, and a mid-range bottle of delicious Spanish wine sells for about $6 USD per bottle.

The Atlantic waters surrounding the islands provide an abundance of healthy and inexpensive fish. In addition, cooking at home using local produce will help to keep costs down even further.

As a tourist destination, Las Palmas has a lot of great restaurants, but at tourist prices. I cooked my meals at home most of the time. If you need to provide breakfast, lunch, and dinner for yourself and you eat out once a week, I would consider a food budget of about 280 EUR (317 USD) per month.

In my case, the food budget was unrealistically low as my work provided me with breakfast and lunch from Monday to Friday, so I usually just snacked for dinner. I did eat out about once a week, but most of the time, this wasn’t in Las Palmas, but in a different town of Gran Canaria when I was exploring the island.

Food in Las Palmas is expensive by Spanish standards but cheap compared to most of Europe. Expensive items include fish, meat, and cheese. However, fruits and vegetables are relatively affordable.

 I used to do most of my grocery shopping at the local supermarket chain “Dino,” which has economical prices. Besides Dino, you can also find the German supermarket chain “Spar” if you’re looking for more Western European brands or organic products.

INSIDER TIP: Food shopping on the Canary Islands-  For groceries, stick with Hiperdino (Dino), the local Spanish supermarket chain. Between Dino and Mercadona, you’ll find a good range of products and prices much cheaper than Spar. By all means, stay away from Spar Natural, which is the European version of Whole Foods. Unless you need a specific health-food item (super organic, free-range, oatmeal with kale superfood), prices in Spar Natural will bust a food budget quickly.

All the Canary Islands have farmer’s markets, which are ideal for buying the freshest organic produce direct from local farmers at bargain prices. Some are purely food and craft markets, but many have huge tourist markets. The largest one is at Teguise in Lanzarote every Sunday. Several hundred stalls offer local produce, designer goods (many of which are fakes), clothing, aloe vera products, bed, table linen, and many more interesting and unusual items.

There is a big difference between local restaurants and restaurants for foreigners regarding meal prices. If you’re on a budget, I highly recommend visiting traditional restaurants in local areas when eating out. Las Palmas is the capital of the island and the 9th biggest city of Spain. The city gives you numerous options for restaurants and bars and a wide price range. As everywhere in the world, restaurant prices next to the beach with a beautiful view are more expensive than restaurants a few streets further back.

INSIDER TIP: Saving Money Eating Out-  The cost of eating out is relatively reasonable, especially if you take advantage of the daily special lunchtime menu (Menus del día) offered at most restaurants. Menus del día provides an excellent food value and includes three courses, a drink, and many times a dessert.

• Très Jolie (budget)- A Spanish-Italian fusion restaurant with great value for the price. They also do superb sangrias and cocktails. On Thursday evenings they take part in the tapas night where you can get a selection of tapas for only a few Euros.
• La Casa Roja (mid-range)- Another Italian restaurant located right on the beachfront of Las Canteras. This restaurant was my favorite pizza place in Las Palmas, and their rooftop terrace has a jaw-dropping sea view.
• Rincon de Triana (Fine Dining)- If you want to treat yourself to a fine dining experience, check out Rincon de Triana. They serve delicious meat and seafood.

Entertainment Budget In Las Palmas

Transportation Cost On The Canary Islands

Las Palmas is partially walkable, but not every part of the city. If you live near Las Canteras, you can easily walk the whole boardwalk and the area around it. However, to get to old town Vegueta you need to take a bus or a taxi. The same goes for if you live in the Vegueta, you can easily walk that part of the city center, but if you want to go to the beach, you need transportation.

The great news is public transport is cheap. 

INSIDER TIP: Exploring the Canary Islands- The Canary Islands are an archipelago consisting of 8 islands not far from each other. If you have time for a few days, I recommend visiting one of the nearby neighboring islands such as Lanzarote, Tenerife, or Fuerteventura.

You can either take a ferry for a few hours or a local flight for about half an hour to get there. The ticket prices depend on which island you want to visit, which day you’re traveling, and in the case of the ferry, if you’re going to take a car with you or not. Just compare prices and see what works best for you.

I recommend exploring the neighboring islands by car, as public transport is limiting if you only have a weekend to explore. You don’t want to waste hours waiting for a bus.

Gran Canaria Las Palmas Airport (LPA), also known as Gran Canaria International Airport has non-stop passenger flights scheduled to 121 destinations in 25 countries.

The island has an international airport, receiving direct flights from other European countries as well as Madrid, Barcelona, and 28 other destinations on mainland Spain. 

Other Costs When Moving To The Canary Islands

INSIDER TIP: Canary Islands Spain Internet- The Canary Islands have a local internet mobile broadband provider focused on digital nomads and travelers that provide SIM cards, mobile 4G routers, and fiber optic plans. 50 GB plus a 4G Wifi router runs about $80. Delivery is free and only takes 1 to 2 working days.  

As an EU citizen temporarily staying in Spain, I get public medical treatment at the same cost as a Spanish citizen using a European Health Insurance Card (EHIC).

Non-EU citizens will need expat medical insurance or travel health insurance for coverage while in Spain. If you apply for a Spanish visa, like the non-lucrative retirement visa, purchasing Spanish private health insurance is required.

The good news is health care in Spain is MUCH cheaper than in the US. A 45-year-old single male can get full coverage medical insurance in Spain for $60 per month.

If you answer “Yes” to one of the following criteria, you may liable for Spanish income tax:

• Did you spend more than 183 days in Spain in a calendar year? FYI, leaving Spain doesn’t reset your 183 day clock, unless you become a tax resident in another country. 
• Is Spain is your “center of interest?” Do you have employment, economic interest, or family living in Spain?

INSIDER TIP: Tax residency in Spain- The United States and Spain have a double taxation agreement. Taxes paid to Spain by US citizens may be deducted from US tax returns. Check with a tax professional for more information.

While logistically close to Africa, the Canary Islands are a part of Spain and have the same visa rules as if you entered anywhere else on mainland Spain.

Along with 26 other European countries, Spain allows visa-free freedom of movement inside what the governments refer to as the Schengen zone for up to 90-days. 

Americans can only live in Spain for 90 out of 180 days without acquiring a long-term visa such as the non-lucrative retirement visa or if you have a Spanish partner, the Unmarried Partnership visa. 

Citizens of other countries can visit the Ministry of Foreign Affairs website for Spain’s visa agreements with other governments.

COMPARE COST OF LIVING IN LAS PALMAS, SPAIN

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