Would you rather pay €2,011 a month in Madrid, or €1,383 in the Canary Islands? For remote workers, that question now has a clear answer. According to the 2026 Working Abroad Index published by Dutch neobank bunq, which compares 75 cities across 41 countries, Las Palmas de Gran Canaria is the only one of five Spanish cities studied with average rent below €800 a month, coming in at €799.89.
The index, updated at the end of July with that month’s prices, puts the total cost of renting and working remotely in the Gran Canaria capital at €1,383.18 a month, excluding coworking space. The gap with Spain’s biggest cities is stark: Madrid reaches €2,011.67 a month with coworking included, and Barcelona €1,980.03. Valencia comes in at €1,667.49 and Málaga at €1,505.57, both without coworking.
According to bunq’s analysts, the advantage isn’t mainly about housing costs but about everyday expenses. Public transport averages €34.68 a month in Las Palmas, roughly half the European average. Utilities, phone and internet add up to €185.98, and monthly groceries are estimated at €287.42.
Across the five Spanish cities in the study, a digital nomad spends €1,763 a month on average without coworking and €1,955 with it, still 10% below the European average. The report also highlights Spain’s edge over other major European destinations: remote workers there spend €321 less a month than in Germany, €542 less than in the UK, and €834 less than in the Netherlands, adding up to annual savings of more than €10,000 compared with the latter.
The figures confirm what Gran Canaria’s remote work community has known for years: reliable connectivity, a mild year-round climate and a cost of living that undercuts most of Europe. But that same appeal, combined with strong tourist demand, has helped push up rents in the capital’s most sought-after neighbourhoods, an issue the new Canary Islands Housing Plan 2026-2030, currently open for public consultation, is trying to address alongside last December’s reform of short-term rental rules.
Striking a balance between attracting international talent and keeping housing accessible for residents remains, for now, the archipelago’s unresolved equation.
