Getting a bank account in Gran Canaria is a doddle if you have an NIE or residencia. Just pick a bank and give them your NIE number, passport and a proof of address (utility bill, rent contract). Then sign a lot of bits of paper and you have an account.
Buying a property in Gran Canaria costs about 10% of the price you pay once you factor in taxes and fees. Selling a property involves some costs but these only add up if you profit from the sale. The annual tax burden of owning a property in Gran Canaria is low.
When you see the prices of second hand cars in Gran Canaria you will probably think about importing a much cheaper car from mainland Europe or the UK. Whilst overall it can be cheaper importing a car there are many costs involved in importing a car to the Canary Islands and you need to consider them carefully before bringing your car here.
With one of Spain’s top outdoor shopping areas and several well-stocked malls, Gran Canaria (and especially Las Palmas), has become a great place to shop. The new shopping centres due to open in Puerto Rico will make a big difference in south Gran Canaria.