Home loan in Portugal for non-residents: €350,200 for a remote-working couple moving to Aveiro
A working couple from Hamburg — she a project manager, he a mechanical engineer — worked mostly remotely and wanted to move to Portugal permanently. They were looking for a modern apartment with a generous balcony, a lift and an additional room as a home office.
Does the Portuguese bank co-finance the modernisation of the apartment in Aveiro?
No, as a rule the Portuguese bank does not co-finance modernisation. It belongs in the overall plan, from equity or by raising capital against German property. In this case the buyers financed around 68 % of the purchase price, and all modernisation, from the kitchen to the home office, was covered from own funds, not by the bank loan.
Key figures
- Purchase price: 515,000 €
- Renovation: 59,250 €
- Financing required: 350,200 €
- Equity: 249,800 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
How was the €515,000 apartment financed?
With €350,200 of financing and €249,800 of equity, which also covered the €25,750 purchase costs and the €59,250 of works.
Reserves kept instead of tying up all assets: Many buyers want to preserve financial reserves and not tie up all their assets in a property.
Property for sale in Aveiro: quality of life in one of Portugal's most innovative cities: Aveiro is often called the "Venice of Portugal" because of its canals but has long since established itself as a modern economic and university location too.
Its proximity to the Atlantic coast, excellent infrastructure and comparatively short distances make the city attractive for German-speaking buyers who want to move their permanent centre of life to Portugal. High-quality apartments in central locations in particular are in high demand.
Who were the buyers?
A couple from Hamburg, she a project manager, he a mechanical engineer, both working mostly remotely, who wanted to move to Portugal permanently.
The suitable property was in a newer residential quarter of Aveiro but was to be individually adapted to their own needs before moving in.
€600,000 total, €25,750 in purchase costs: Purchase price: 515,000 €; Additional costs: 25,750 €; Renovation: 59,250 €; Total investment: 600,000 €; Equity: 249,800 €; Financing required: 350,200 €.
Why were the works done before moving in?
Because the buyers wanted to keep enough liquidity for the new start and finish all modernisation before moving in; their equity came from savings and the sale of a smaller apartment.
At the same time, they wanted to keep enough liquidity for the new start in Portugal and complete all modernisation before moving in.
Why was around 68 % of the price financed?
To use the equity in a targeted way without restricting financial flexibility; the kitchen, bathroom and home office were paid from own funds.
With financing of around 68 % of the purchase price, a balanced financing solution emerged. The equity was used in a targeted way without unnecessarily restricting financial flexibility.
Kitchen, bathroom and home office from own funds: The overall plan covered all intended modernisation measures — from equity, not the bank loan:
installation of a high-quality open-plan kitchen; modernisation of the bathroom; fit-out of a fully equipped home office; energy-efficient air conditioning; custom-made fitted wardrobes; electric shading of the balcony; structured network cabling and modern media technology.
All work was completed immediately after the property acquisition.
Moved in with no second build phase, working from Portugal: The apartment could be occupied without a further building phase. The buyers took up their professional activity directly from Portugal and at the same time had sufficient financial reserves for building their new life in Aveiro.
Why count price, fees and refurbishment together?
Because complete planning creates certainty and avoids later additional financing, even for modern apartments.
Aveiro apartment: an overall plan for a permanent move to Portugal: An apartment in Aveiro combines modern city life with a high quality of living and good access to the Atlantic coast. Anyone who aligns the overall plan with the entire investment and considers modernisation from the start creates a durable basis for a permanent centre of life in Portugal.
Frequently asked questions
Which modernisations are especially in demand for apartments in Aveiro?
Kitchens, bathrooms, air conditioning, network cabling, lighting, shading and individual storage solutions are frequently modernised.
Is Aveiro suitable as a permanent residence?
Yes. Aveiro offers excellent infrastructure, a lively university city, good transport links, proximity to the Atlantic and a high quality of life for owner-occupiers.
What did the total investment for the apartment in Aveiro come to?
The total investment was €600,000: purchase price €515,000, additional costs €25,750 and renovation €59,250. Equity was €249,800 and the financing required €350,200.
A similar situation in Portugal? Let's talk.
Every financing in Portugal is an individual case. In a free initial consultation we will tell you honestly what is feasible and which bank fits.
Perini Finance & Property — German-speaking, operating under the §34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; at least 2 of 15–20 banks approached per case. First call free; on completion 1 % of the loan amount. · Anonymised individual case, not a binding statement for other projects · Brokerage under the §34i GewO licence held by Olga Nikushkina (D-W-132-ZUCB-95); Siegfried Perini registered as directly involved person (§11a GewO) · no tax or legal advice · no financing commitment; conditions depend on creditworthiness, loan-to-value and bank
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Content by Siegfried Perini — local brand representative since 2019, active in real estate since 1992, entered in the German intermediary register (§ 11a GewO) as a person directly involved in brokerage and advice. Point of contact for German-speaking buyers in Spain and Portugal. Brokerage by Olga Nikushkina, mortgage credit intermediary under § 34i German Trade Regulation (GewO); in Portugal through a locally licensed intermediary.