Canary Islands property: Buying after Puerto Naos reopened, €437,500 loan on La Palma
Anonymised case from La Palma: house in Puerto Naos bought after the reopening, €437,500 loan. Mortgage financing for non-residents.
How should the suitability of Puerto Naos as a location be assessed when buying?
Many buyers watch the development of the town very closely, and suitability should be assessed on current conditions and personal requirements. The couple here waited until the situation had stabilised after the volcanic eruption before resuming their search. The loan was €437,500, about 70 percent of the €625,000 purchase price, and they kept their financial reserves.
In short
All work is completed before the property is used permanently. The financing was arranged by Perini Finance & Property.
All work finished before permanent use: All work is completed before the property is used permanently.
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.
€625,000 price, €437,500 loan, €342,750 equity
A couple from Rhineland-Palatinate found a modern house in Puerto Naos for €625,000, with financing of €437,500 and equity of €342,750.
Purchase price: 625,000 €; Financing required: 437,500 €; Equity: 342,750 €.
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 Naos: sometimes the dream of island life needs, above all, patience: A couple from Rhineland-Palatinate had fallen in love with La Palma some years earlier. Puerto Naos in particular delighted them with its relaxed atmosphere, the promenade right on the Atlantic and the pleasant year-round climate.
After the events surrounding the volcanic eruption, they deliberately postponed their plans. Only when the situation had stabilised and the town step by step returned to life did they resume their property search.
In the end they found a modern house in a quiet location, only a few minutes' walk from the sea.
Both can work partly remotely, reserves stay untouched
The buyer worked as an electrical engineer; his wife headed the finance department of a mid-sized company. Both could carry out their work partly location-independently over the coming years.
They had solid equity and a debt-free apartment in Germany, but wanted to keep enough financial reserves for the planned emigration.
€780,250 total investment including €74,000 of works: Purchase price: 625,000 €; Additional costs: 81,250 €; Renovation (photovoltaics, air conditioning, outdoor area and kitchen): 74,000 €; Total investment: 780,250 €; Equity: 342,750 €; Financing required: 437,500 €.
The financing share corresponded to around 70 % of the purchase price.
Improving the energy supply and redesigning the outdoor area: Although the house was already in good condition, the buyers wanted to optimise the energy supply and completely redesign the outdoor area.
In addition, the financing was to leave enough room, as the final move was planned only some years later.
A plan for today and for later life on La Palma
Before the contract was concluded, all modernisation measures 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 took into account both the current professional situation and the later centre of life on La Palma.
The buyers deliberately chose against a maximum use of equity.
Around 70% financed, the works budgeted from the start: 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 measures were already part of the original financing plan. This meant all work could be completed immediately after the transfer of ownership.
Several months a year on the island, moving step by step: Today the buyers use their house regularly for several months a year and are preparing their permanent move to La Palma step by step.
Because all investments have already been completed, the later move to the island will be much easier.
Waiting for the right moment instead of buying in a hurry
A property purchase does not have to happen under time pressure. Anyone who waits for the right moment, plans carefully and takes all investments into account early creates a stable basis for a later centre of life.
Puerto Naos house financed with patience and foresight: Buying a house in Puerto Naos shows that property financing also requires patience and foresight. Anyone who combines purchase price, modernisation and long-term life planning creates the basis for a successful new start on La Palma.
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 part of the equity kept?
The buyers wanted to preserve enough financial reserves for their later move and for unforeseen expenses.
Which modernisation was planned for the house in Puerto Naos?
Although the house was already in good condition, the buyers wanted to optimise the energy supply and completely redesign the outdoor area. The renovation covered photovoltaics, air conditioning, outdoor area and kitchen.
How do the buyers use the Puerto Naos house before the permanent move to La Palma?
Today the buyers use their house regularly for several months a year and are preparing their permanent move to La Palma step by step. Because all investments have already been completed, the later move to the island will be much easier.
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.
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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.