Financing a penthouse in Palamós – Comfortable living with a view of the marina
The managing director of a mid-sized mechanical engineering company from Baden-Württemberg was retiring in Spain after the handover of his company. Together with his wife he was looking for a generous penthouse in Palamós with a large roof terrace, a lift and short distances to the harbour and shops.
In short
What was this case about?
The managing director of a mid-sized mechanical engineering company from Baden-Württemberg was retiring in Spain after the handover of his company. Together with his wife he was looking for a generous penthouse in Palamós with a large roof terrace, a lift and short distances to the harbour and shops.
Can financing still make sense after a company sale?
Yes. Many buyers want to spread their assets broadly and not invest all of the sale proceeds in a property.
Why should modernisation be carried out immediately?
Extensive work can usually be carried out more efficiently before moving in than during ongoing use of the apartment.
Who arranged this?
Perini Finance & Property — German-speaking, operating under the §34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; 15 to 20 banks approached per case. First call free; on completion 1 % of the loan amount.
€845,000 penthouse, €591,500 of financing needed
- Purchase price: 845.000 €
- Renovation: 73.600 €
- Financing required: 591.500 €
- Equity: 428.500 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Palamós: arriving permanently rather than just holidaying
Palamós is one of the liveliest coastal towns on the Costa Brava. The marina, the historic old town and the good year-round infrastructure make it especially attractive for people who want to move their centre of life permanently to Spain. High-quality penthouses often offer an excellent location but require individual adaptations to one's own living needs before moving in.
After handing over the firm: penthouse near the harbour
The managing director of a mid-sized mechanical engineering company from Baden-Württemberg was retiring in Spain after the handover of his company. Together with his wife he was looking for a generous penthouse in Palamós with a large roof terrace, a lift and short distances to the harbour and shops. The suitable property was built to a high standard but no longer matched today's ideas in its interior.
What adds up to the €1,020,000 total investment
- Purchase price: 845.000 €
- Additional costs: 101.400 €
- Renovation: 73.600 €
- Total investment: 1.020.000 €
- Equity: 428.500 €
- Financing required: 591.500 €
Sale proceeds stay invested, works done before moving
After the sale of the company, sufficient equity was available. Even so, a considerable part of the sale proceeds was to remain invested and not flow entirely into the property. At the same time, there was the wish to complete all modernisation work before moving in.
70 % financing keeps cash free for other long-term goals
After a company sale in particular, many buyers value a balanced asset structure. Financing can help to preserve existing liquidity for other long-term goals.
With financing of around 70 % of the purchase price, a solid balance emerged between equity and outside financing. At the same time, all investments were fully taken into account from the start.
Designer kitchen, two baths, smart home and fibre network
Alongside the acquisition, the overall plan covered all planned modernisation — from equity, not by the bank loan:
- new designer kitchen with an island
- complete renewal of the two bathrooms
- modern air conditioning of all living areas
- smart-home control for lighting and shading
- custom-made fitted wardrobes
- high-quality terrace lighting
- preparation of a fibre-optic home network
This meant the penthouse could be occupied after the work was completed, without a further building phase.
Move to Palamós into an already finished home
The couple moved their centre of life to Palamós as planned. All modernisation was already complete, so the property immediately matched their personal living ideas. At the same time, a significant part of their assets remained available outside the property.
Budget for fitting the home to your own habits
A high-quality penthouse on the Costa Brava often means not only buying a property but also adapting it to one's own living habits. If these measures are taken into account in the overall plan — covered from equity, not by the bank loan — a realistic overview of the actual investment emerges from the start.
Frequently asked
Can financing still make sense after a company sale?
Why should modernisation be carried out immediately?
Which modernisations are frequently carried out on high-quality penthouses?
Is Palamós suitable for permanent living?
Palamós penthouse financed with retirement firmly in view
Buying a penthouse in Palamós shows how important an overall plan is that realistically reflects the entire investment requirement — the bank loan for the purchase price, costs and modernisation from equity. If the purchase price, additional costs and modernisation are planned together, a durable solution emerges for everyone who wants to move their centre of life permanently to the Costa Brava.
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Two generations realise their dream together
A similar situation in Spain? Let's talk.
Every financing in Spanien is an individual case. In a free initial consultation I will tell you honestly what is feasible and which bank fits.
Book a free consultationAnonymised 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