City rather than beach: €644,000 loan for a house in Las Palmas
Anonymised case from Gran Canaria: house in Las Palmas de Gran Canaria, city rather than beach, €644,000 loan. Mortgage financing for non-residents.
House in Las Palmas: why do many families choose the island capital?
Many families deliberately choose the island capital because it offers excellent infrastructure, international schools, medical care and a wide range of leisure activities. The family here chose a house in a quiet residential district near the city beach and the schools. The loan was €644,000, about 70 percent of the €920,000 purchase price.
In short
Perini Finance & Property arranged the financing, with 30+ banks approached per case. The first call is free, and on completion 1 % of the loan amount is due.
Both were central to family life from day one: Both factors played a central role in the family's future everyday life and were to be used directly after moving in.
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.
€920,000 price, €644,000 loan for the family
The purchase price of the house in Las Palmas de Gran Canaria was 920,000 €. The financing required was 644,000 € and the equity 491,600 €.
Purchase price: 920,000 €; Financing required: 644,000 €; Equity: 491,600 €.
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 Las Palmas de Gran Canaria: not every dream on the Canary Islands begins on the beach: A family from Düsseldorf wanted to move permanently to the Canary Islands. While friends recommended only coastal towns, they deliberately looked for a property in a lively city with schools, doctors, shops and year-round everyday life.
After several days of viewings they chose a modern detached house in a quiet residential district of Las Palmas de Gran Canaria. Proximity to the city centre, to the Las Canteras city beach and to international schools was ultimately decisive.
Family with two children, German home already sold
The buyers were 42 and 39 years old and had two school-age children. He worked as a division manager at an international logistics company; she was a personnel manager and could carry out her work permanently from home.
The home in Germany had already been sold. Part of the sale proceeds was to be used specifically as equity, while sufficient liquidity was to remain for the new start on Gran Canaria.
€1,135,600 total investment, €491,600 equity: Purchase price: 920,000 €; Additional costs: 119,600 €; Renovation (photovoltaics, air conditioning, home office and garden): 96,000 €; Total investment: 1,135,600 €; Equity: 491,600 €; Financing required: 644,000 €.
The financing share corresponded to around 70 % of the purchase price.
Two home offices, solar power and cash left for the move: The house was well-kept but not yet tailored to the needs of a family who wanted to live there year-round.
Planned were two full home-office workplaces, an energy-efficient photovoltaic system, the redesign of the garden and modern air conditioning of all living areas.
In addition, enough equity was to remain for the move and the first months on the island.
Move, school change and furnishing counted in
Before the purchase, all modernisation costs were fully recorded and calculated together with the purchase price and additional costs.
In parallel, a long-term household budget was drawn up which, alongside the financing costs, also took into account changing schools, the move, furnishing and general living costs.
This made it possible to determine the necessary use of equity realistically.
About 70% financed, equity covers the purchase costs: The financing was set at around 70 % of the purchase price.
The additional costs and a considerable part of the purchase price were paid from equity.
All modernisation measures were already part of the original financing plan. This meant the house could be adapted to the family's needs immediately after handover.
Family living in Las Palmas, both jobs continuing: Just a few months later, the family moved permanently to Las Palmas. The children quickly settled into their new school, while both parents were able to continue their work without interruption.
Thanks to the early modernisation, a house was created that meets both professional and family requirements over the long term.
Schools and daily life count more than beach proximity
Anyone emigrating permanently to Spain or the Canary Islands should choose a property from an everyday point of view. Good infrastructure, schools, work opportunities and realistic financing planning are often more important than being right next to the beach.
Las Palmas house: financing set within the wider life plan: Buying a house in Las Palmas de Gran Canaria shows that successful property financing should always consider the entire life plan. Anyone who looks at purchase price, modernisation, the move and long-term living costs together creates the basis for a successful new start on the Canary Islands.
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 Meloneras — case report: Anonymised case from Gran Canaria: villa in Meloneras. Mortgage financing for non-residents.
Frequently asked questions
Should sufficient liquidity be kept when moving abroad?
Yes. Additional expenses can arise especially in the first months, and these should be taken into account before the property purchase.
Which modernisation was planned for the house in Las Palmas de Gran Canaria?
Planned were two full home-office workplaces, an energy-efficient photovoltaic system, the redesign of the garden and modern air conditioning of all living areas.
Which costs besides the financing were included in the household budget for the move to Las Palmas?
A long-term household budget was drawn up which, alongside the financing costs, also took into account changing schools, the move, furnishing and general living costs. This made it possible to determine the necessary use of equity realistically.
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.