After 15 years of holidays: €486,500 for an apartment in Playa del Inglés
Anonymised case from Gran Canaria: apartment in Playa del Inglés after 15 years of holidays, €486,500 financed. Mortgage financing for non-residents.
Why do buyers choose Playa del Inglés for an apartment after years of holidays?
Many buyers deliberately choose the town because shops, medical care, restaurants and leisure activities are available year-round. In this case a couple who had spent several weeks on Gran Canaria for over 15 years wanted an apartment that suits more than holiday stays, with a south-facing terrace, a lift and a short distance to the beach promenade.
Purchase price €695,000, equity €380,850
The purchase price of the apartment in Playa del Inglés was 695,000 €. The financing required was 486,500 € and the equity 380,850 €.
All work done right after the transfer of ownership: All work could be completed immediately after the transfer of ownership, without later financing gaps.
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: 695,000 €; Financing required: 486,500 €; Equity: 380,850 €.
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.
Years of holidays turned into a new chapter of life: A couple from Leipzig had spent several weeks on Gran Canaria regularly for over 15 years. While hotels were preferred at first, over the years the wish for an apartment of their own grew. What was decisive, however, was that the property should not only be suitable for holiday stays. After entering retirement, both wanted to live permanently on the island.
After an intensive search they found a generous apartment in Playa del Inglés with a large south-facing terrace, a lift and a short distance to the beach promenade.
Engineer and teacher putting their equity to targeted use
The buyer was a civil engineer; his wife worked as a senior teacher. Both had regular income, a well-built securities portfolio and a debt-free apartment in Germany.
The existing equity was to be used deliberately without using up all financial reserves.
€867,350 total, €82,000 of it refurbishment
The total investment was 867,350 €, of which 82,000 € was renovation of bathrooms, kitchen, air conditioning and shading. The financing share corresponded to around 70 % of the purchase price.
Purchase price: 695,000 €; Additional costs: 90,350 €; Renovation (bathrooms, kitchen, air conditioning and shading): 82,000 €; Total investment: 867,350 €; Equity: 380,850 €; Financing required: 486,500 €.
The financing share corresponded to around 70 % of the purchase price.
Good location, dated fittings: kitchen, baths, air-con, shading
The apartment had an excellent location but was no longer technically up to date. Planned were a complete renewal of the kitchen, the modernisation of both bathrooms, energy-efficient air conditioning and weatherproof shading of the terrace.
All work was to be completed before the first longer stay.
Quotes before signing, payment affordable in retirement too: Before the purchase contract was concluded, all modernisation measures were calculated with concrete quotes.
In addition, a long-term financing plan was drawn up that already took the later pension situation into account. The buyers deliberately wanted to choose their monthly burden so that it would remain comfortably affordable after working life too.
70% of the price financed, works from equity: The financing was set at around 70 % of the purchase price.
The additional costs and a considerable share of equity were paid from existing own funds.
The full modernisation costs were already included in the original overall plan — covered from equity, not by the bank loan. This meant the apartment could be fully modernised immediately after handover.
Lived in several months a year, liquidity preserved: Once all work was completed, a modern apartment was created that already serves the buyers as a home for several months a year.
No further major investment is required for the later permanent move. At the same time, sufficient liquidity remained for unforeseen expenses.
Buy a flat with potential and count the works in
An apartment in a good location does not have to be perfectly equipped. It is often more sensible to acquire a property with potential and adapt it to one's own needs from the start. The prerequisite, however, is that all modernisation costs are taken into account early.
Playa del Inglés apartment turns holiday guest into resident: Buying an apartment in Playa del Inglés shows that well-considered financing involves far more than acquiring a property. Anyone who combines purchase price, modernisation, equity and long-term life planning creates the basis for a relaxed transition from holiday guest to permanent resident of 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 not all of the equity used?
The buyers deliberately wanted to keep financial reserves so they could remain flexible over the long term even after the move.
Which modernisation work was planned for the apartment in Playa del Inglés?
Planned were a complete renewal of the kitchen, the modernisation of both bathrooms, energy-efficient air conditioning and weatherproof shading of the terrace. All work was to be completed before the first longer stay.
How was the later pension situation taken into account in the financing of the apartment?
A long-term financing plan was drawn up that already took the later pension situation into account. The buyers deliberately wanted to choose their monthly burden so that it would remain comfortably affordable after working life too.
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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.