Lanzarote property: Move planned over years, €654,500 for Puerto del Carmen
Anonymised case from Lanzarote: house in Puerto del Carmen, a move planned over years, €654,500. Mortgage financing for non-residents.
Is a house in Puerto del Carmen suitable as a permanent residence in Lanzarote?
Besides tourism, many buyers choose a permanent residence there, because the town offers good infrastructure and short everyday distances. The couple here planned the move over several years, with longer stays first. The loan was €654,500, about 70 percent of the €935,000 purchase price, and all work was finished before their first longer stay.
In short
The property was to be fully completed before the later move, and later construction work was to be avoided. The financing was arranged by Perini Finance & Property.
Property fully completed before the later move: The property was to be fully completed before the later move, and later construction work was to be avoided.
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.
Price €935,000, loan €654,500, own funds €520,050
A couple from Nuremberg chose a modern house in Puerto del Carmen for €935,000, with financing of €654,500 and equity of €520,050.
Purchase price: 935,000 €; Financing required: 654,500 €; Equity: 520,050 €.
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.
Property for sale in Puerto del Carmen: first several months on the island, later permanently: A couple from Nuremberg did not want to leave Germany overnight. Instead, both planned the move to Lanzarote over several years. Longer stays were to be possible at first, with the permanent move planned after entering retirement.
After an intensive search they chose a modern house in Puerto del Carmen. Decisive were the good infrastructure, proximity to the sea and the ability to organise everyday life without long distances.
Two steady salaries and a debt-free flat back in Germany
The buyer worked as a sales manager at an industrial company; his wife was a grammar-school teacher. Both had regular incomes and a debt-free apartment in Germany.
Sufficient equity was available but was not to flow entirely into the property purchase. The buyers deliberately wanted to preserve their financial flexibility.
Total investment €1,174,550 including costs and refurbishment: Purchase price: 935,000 €; Additional costs: 121,550 €; Renovation (air conditioning, photovoltaics, pool technology and kitchen): 118,000 €; Total investment: 1,174,550 €; Equity: 520,050 €; Financing required: 654,500 €.
The financing share corresponded to around 70 % of the purchase price.
Getting the house ready for year-round living: The house was built to a high standard but was to be consistently prepared for year-round use.
Alongside an energy-efficient photovoltaic system, modern air conditioning, a new kitchen and the renewal of the pool technology were planned.
The buyers wanted to complete all work before their first longer stay.
Every refurbishment quote costed before the contract was signed
Before the purchase contract was concluded, all modernisation measures were calculated with concrete quotes and included in the total investment.
In addition, a financing plan was drawn up that took into account not only the current income situation but already the later retirement.
This made it possible to place the financing on stable long-term foundations.
The loan covers 70%, own funds pay the costs and the works: The financing was set at around 70 % of the purchase price.
The additional costs and a considerable part of the purchase price were covered from own funds.
All modernisation costs, too, were fully taken into account before the purchase. After the transfer of ownership, all measures could be implemented without further financing.
Finished before the first longer stay on Lanzarote: The house was already fully modernised when the buyers began their first stays of several months on Lanzarote.
The later permanent move can take place without additional investment, as all work has already been completed.
Preparing a move abroad over several years
Emigration does not have to happen in a short time. Anyone who prepares the move over several years and aligns the financing with the future life situation early on gains considerably more planning certainty.
Puerto del Carmen house: financing matched to personal life plans: Buying a house in Puerto del Carmen shows that property financing should always fit personal life planning. Anyone who considers purchase price, modernisation and long-term future plans together creates the basis for a relaxed transition into a new chapter of life on Lanzarote.
Similar cases by region and price band: Cases with a comparable region and price band — for context, not a promise of the same outcome.
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
Villa in Costa Teguise — case report: Anonymised case from Lanzarote: villa in Costa Teguise. Mortgage financing for non-residents.
Frequently asked questions
Why was not all of the equity used?
The buyers deliberately wanted to keep financial reserves for the later move and for unforeseen expenses.
Which modernisation was planned for the house in Puerto del Carmen?
Alongside an energy-efficient photovoltaic system, modern air conditioning, a new kitchen and the renewal of the pool technology were planned. The buyers wanted to complete all work before their first longer stay.
Did the financing plan for the Lanzarote property take the later retirement into account?
Yes. A financing plan was drawn up that took into account not only the current income situation but already the later retirement. This made it possible to place the financing on stable long-term foundations.
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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.
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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.