Costa Blanca property: Alicante city apartment with historic flair and comfort
Alicante combines a Mediterranean feel of life with the advantages of a lively city. The proximity to the international airport, excellent infrastructure and the mild year-round climate make the city attractive for German-speaking buyers who want to move their centre of life permanently to Spain.
What matters when financing a city apartment in Alicante?
A realistic valuation of the property and an early calculation of the planned modernisation measures are decisive. In this case the modernisation, 42,200 € for the electrics, two bathrooms, air conditioning, kitchen and study, was calculated before the purchase and fully included in the overall planning. Alicante also offers very good infrastructure, international transport links, medical care and shopping.
498,000 € price, 323,200 € loan, 42,200 € refurbishment
- Purchase price: 498,000 €
- Renovation: 42,200 €
- Financing required: 323,200 €
- Equity: 276,800 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Alicante: living between the old town, the harbour and urban everyday life
This practical case shows how buying a centrally located apartment can be implemented with well-considered financing.
A period flat by the port becomes home and workplace: A self-employed architect from Austria wanted to move her living and working centre permanently to Alicante. After several longer stays, it was clear that she wanted to enjoy urban life with short distances, cultural amenities and the proximity to the sea permanently.
She found a generous period apartment not far from the harbour. The property was convincing for its high ceilings, original elements and good structural condition. At the same time, there was a need for modernisation to bring living comfort and energy efficiency up to date.
600,000 € in total, 59,800 € of it purchase costs: Purchase price: 498,000 €; Additional costs: 59,800 €; Renovation: 42,200 €; Total investment: 600,000 €; Equity: 276,800 €; Financing required: 323,200 €.
Keeping a reserve for the freelance business
The buyer had sufficient equity from the sale of her previous apartment but wanted to keep part of the proceeds as a financial reserve for her self-employment.
In addition, all modernisation measures were to be completed immediately after the purchase so the apartment could be occupied without a further building phase.
42,200 € for wiring, two baths, kitchen and a studio
The property was in a sought-after city-centre location in Alicante with excellent access to public transport, shops and the beach promenade.
The planned work focused on the renewal of the electrics, the modernisation of the two bathrooms, energy-efficient air conditioning, the installation of a high-quality kitchen and the design of a generous study for the home office.
As all measures were calculated before the purchase, they could be fully included in the overall planning.
Around 65 % on loan, no later need for capital
The financing was set at around 65 % of the purchase price. This kept enough equity for personal reserves without unnecessarily increasing the monthly burden.
Alongside the purchase price, all additional costs and the planned modernisation were also included in the overall plan from the start — covered from equity, not by the bank loan. This created a closed overall plan with no later additional capital requirement.
A period flat with modern comfort, work carried on: Once the work was completed, the apartment combines the character of a classic period building with contemporary living comfort. The buyer was able to move her centre of life to Alicante as planned and continue her professional activity without major interruption.
The financing fitted both the current income situation and the long-term personal goals.
Older flats in Alicante: budget the works realistically
In city-centre locations in Alicante in particular, a close look at existing properties is worthwhile. They often offer significantly more living quality and individuality than new builds but require realistic planning of the modernisation costs.
Anyone who takes these investments into account already at the acquisition creates a solid basis for the later move-in.
Alicante: overall planning turns an existing flat into a new home: Alicante offers ideal conditions for people who want to enjoy life in a Spanish coastal city permanently. With an overall plan that brings together the purchase price, additional costs and modernisation from the start — the bank loan for the purchase price, costs and modernisation from equity — even a characterful existing property can be developed into a new home economically and in a plannable way.
Frequently asked questions
Which modernisations are frequently carried out?
Typical are the renewal of electrics and sanitary facilities, modern air conditioning, new kitchens and energy improvements, without losing the original character of the property.
Why is not all of the equity used?
Many buyers want to keep financial reserves in order to remain flexible or to continue to finance their professional activity sufficiently.
How was the total investment of 600,000 € for the city apartment in Alicante made up?
The purchase price was 498,000 €, the additional costs 59,800 € and the renovation 42,200 €. Equity was 276,800 €, the financing required 323,200 €, around 65 % of the purchase price.
A similar situation in Spain? Let's talk.
Every financing in Spain is an individual case. In a free initial consultation I 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
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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.