Tenerife property: Pension income as the basis, €479,500 loan in Los Cristianos
Anonymised case from Tenerife: modern apartment in Los Cristianos with pension income as the basis, €479,500 loan. Mortgage financing for non-residents.
With pension income as the basis in Los Cristianos, was any later financing necessary?
No. The apartment could be fully adapted to the buyers' needs right after purchase, and no later financing became necessary. The €72,000 for kitchen, bathrooms, air conditioning and terrace shading was calculated before the purchase. The loan was €479,500, about 70 percent of the €685,000 purchase price, and the financing was checked against the couple's later pension income.
In short
Many buyers deliberately choose Los Cristianos as their main residence because of its good infrastructure, medical care and year-round quality of life.
Main residence with good care and year-round life: Many buyers deliberately choose Los Cristianos as their main residence because of its good infrastructure, medical care and year-round quality of life.
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.
€685,000 price, €479,500 loan, €366,550 own funds
The purchase price of the apartment in Los Cristianos was 685,000 €. The financing required was 479,500 € and the equity 366,550 €.
Purchase price: 685,000 €; Financing required: 479,500 €; Equity: 366,550 €.
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.
Retiring to Los Cristianos: a new chapter with a view of the Atlantic: After more than thirty years of working life, a couple from Hesse decided to spend their retirement not in Germany but on Tenerife. During numerous holidays they had come to appreciate Los Cristianos. The beach promenade, good medical care, shopping and the pleasant year-round climate made the town their first choice.
They were not looking for a holiday flat but for a modern apartment that allows comfortable permanent living.
Pension income and a flat in Germany as the basis
The former vocational-school teacher and his wife, who had worked for many years as an administrative manager, had regular pension income and a debt-free apartment in Germany. This was to be kept at first and sold later as needed.
As both placed great value on financial security, the financing was to be deliberately conservative.
€846,050 total, €72,000 for kitchen, baths and terrace: Purchase price: 685,000 €; Additional costs: 89,050 €; Renovation (kitchen, bathrooms, air conditioning and terrace shading): 72,000 €; Total investment: 846,050 €; Equity: 366,550 €; Financing required: 479,500 €.
The financing share corresponded to around 70 % of the purchase price.
Age-friendly baths and terrace roof for living there: The apartment was in well-kept condition but did not fully meet the requirements for a permanent residence.
Planned were an age-appropriate bathroom modernisation, a new fitted kitchen, energy-efficient air-conditioning units and a weatherproof terrace roof so the outdoor area could be used year-round.
The buyers wanted to complete all measures directly after purchase and then live in the property for many years without major investment.
Financing that also fits later pension income
Before the purchase decision, all planned work was calculated in detail and, together with the additional costs, included in the total cost.
In parallel, it was examined how the financing could be reconciled in the long term with the later pension income. Not only the current financial situation played a role, but also sufficient reserves for future developments.
Fees from savings, loan at 70% of the purchase price: The financing was set at around 70 % of the purchase price.
The additional costs and a considerable share of equity were paid from existing savings.
All modernisation costs were also fully taken into account before the purchase. This meant the work could begin immediately after the transfer of ownership and be completed within a few weeks.
Living close to beach, shops and medical care: The apartment was fully adapted to the needs of the new chapter of life. Today the couple has a permanently usable residence with short distances to the beach, shops and medical care.
Because all investments were planned from the start, no further major expenditure was required after moving in.
The home should still fit many years from now
Anyone planning retirement abroad should not only consider location and purchase price. A financing that is sustainable over the long term, sufficient equity and a property that still meets personal needs many years later are equally important.
Los Cristianos apartment: realistic figures for a fresh start: Buying an apartment in Los Cristianos shows how important forward-looking financing planning is. Anyone who calculates equity, additional costs and necessary modernisation realistically from the start and aligns the financing with their personal life plan creates the best conditions for a relaxed new start on Tenerife.
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
Exclusive villa in Costa Adeje — case report: Anonymised case from Tenerife: exclusive villa in Costa Adeje. Mortgage financing for non-residents.
Frequently asked questions
Should financing already be aligned with retirement?
Yes. Sustainable financing planning takes into account not only current income but also the later financial situation.
Which modernisation was planned for the apartment in Los Cristianos?
Planned were an age-appropriate bathroom modernisation, a new fitted kitchen, energy-efficient air-conditioning units and a weatherproof terrace roof so the outdoor area could be used year-round.
What happened to the buyers' debt-free apartment in Germany?
The couple had regular pension income and a debt-free apartment in Germany. This was to be kept at first and sold later as needed.
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.