Gran Canaria property: Bought years before retirement, €521,500 for an apartment in Maspalomas
Anonymised case from Gran Canaria: apartment in Maspalomas bought years before retirement, €521,500 financed. Mortgage financing for non-residents.
What do many buyers appreciate about Maspalomas for year-round living?
Many buyers appreciate the quiet residential areas, the good infrastructure and the year-round availability of shops, doctors and leisure activities. In this case the couple chose a quiet residential complex in Maspalomas with a large terrace, a lift and short distances to shops and medical care, to enjoy the apartment already today and prepare the later move without time pressure.
€745,000 price, €521,500 loan, €408,350 own funds
The apartment in Maspalomas cost 745,000 €. The financing required was 521,500 € and the equity 408,350 €.
Buyers wanted to use it right away, without later works: The buyers wanted to use the apartment regularly right after purchase and wanted to avoid later construction work.
Arranged by Perini Finance & Property: Perini Finance & Property — German-speaking, operating under the §34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; 30+ banks approached per case. First call free; on completion 1 % of the loan amount.
Purchase price: 745,000 €; Financing required: 521,500 €; Equity: 408,350 €.
Anonymised case figure · not a binding statement for other projects · §34i GewO
Typical, anonymised case. Names, places and individual financing figures have been adjusted to protect privacy. The process reflects a typical advisory situation for non-resident financing in Spain.
The right moment is often years before the actual move: A couple from Ulm had originally planned to buy a property on Gran Canaria only after entering retirement. After talks with friends and several stays on the island, however, they deliberately decided on an earlier purchase.
The idea was simple: enjoy the apartment already today, become familiar with the surroundings and prepare the later move without time pressure.
They chose a generous apartment in a quiet residential complex in Maspalomas – with a large terrace, a lift and short distances to shops and medical care.
Division head and notary, German home fully paid off
The buyer was a division manager at an automotive supplier; his wife worked as a notary. Both had stable incomes, a debt-free home in Germany and a portfolio built up over the long term.
They wanted to contribute enough equity but at the same time keep sufficient financial reserves for the upcoming retirement.
€929,850 in all, financing about 70% of the price
The total investment was 929,850 €, including 96,850 € additional costs and 88,000 € renovation. The financing share corresponded to around 70 % of the purchase price.
Purchase price: 745,000 €; Additional costs: 96,850 €; Renovation (bathrooms, kitchen, air conditioning and sun protection): 88,000 €; Total investment: 929,850 €; Equity: 408,350 €; Financing required: 521,500 €.
The financing share corresponded to around 70 % of the purchase price.
Open kitchen, baths and terrace built to last: The apartment was in well-kept condition but no longer met today's requirements in some areas.
The buyers planned an open-plan kitchen, modern bathrooms, energy-efficient air-conditioning units and a complete redesign of the terrace with shaded seating areas.
Because the property was to be used for many years, the quality and durability of the measures were paramount.
Refurbishment costed upfront, pension years factored in
Before the purchase, all modernisation costs were calculated in detail and included, together with the purchase price and additional costs, in the total investment.
In parallel, a long-term financing plan was drawn up that already took the transition into retirement into account. The aim was a financing that remains comfortably affordable with later pension income too.
70% loan-to-value, purchase costs from own funds: The financing was set at around 70 % of the purchase price.
The additional costs and a considerable part of the purchase price were paid from own funds.
All modernisation measures were part of the overall plan from the start — covered from equity, not by the bank loan. This meant the apartment could be fully modernised directly after the transfer of ownership.
Flat used several times a year, later move needs no more spend: Today the couple already uses the apartment several times a year and has enough time to become familiar with everyday life on Gran Canaria.
The later permanent move can take place without further major investment, as all work has already been completed.
Buy early, refurbish calmly, move later
Anyone planning retirement abroad often benefits from acquiring the property early. This allows modernisation to be carried out at leisure, experience to be gained on site and the later move to be organised much more calmly.
Maspalomas apartment: planned early rather than left until retirement: Buying an apartment in Maspalomas shows that good property financing is always part of long-term life planning. Anyone who does not postpone the purchase until retirement but plans early, considers modernisation and preserves financial reserves creates the best conditions for a relaxed new start on Gran Canaria.
A similar situation in Spain? Let's talk. Every financing in Spain is an individual case. In a free initial consultation we will tell you honestly what is feasible and which bank fits.
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
Similar cases by region and price band: Cases with a comparable region and price band — for context, not a promise of the same outcome.
Villa in Meloneras — case report: Anonymised case from Gran Canaria: villa in Meloneras. Mortgage financing for non-residents.
Frequently asked questions
Why was part of the assets kept?
Sufficient liquidity reserves increase financial security and create room for future developments.
Why did the couple buy the apartment in Maspalomas years before retirement?
The idea was to enjoy the apartment already today, become familiar with the surroundings and prepare the later move without time pressure. Anyone planning retirement abroad often benefits from acquiring the property early.
What was the total investment for the apartment in Maspalomas, and how much of it was financed?
The total investment was 929,850 €: purchase price 745,000 €, additional costs 96,850 € and renovation 88,000 €. The financing required was 521,500 €, around 70 % of the purchase price, and the equity was 408,350 €.
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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.