Costa del Sol property: Penthouse in Benalmádena – Five years to the move: new-build and timing
Anonymised case report: Penthouse in Benalmádena – Five years to the move: new-build and timing. Mortgage financing for non-residents.
How well is a penthouse in Benalmádena connected to Málaga and the airport?
Benalmádena has good transport links and short distances to Málaga, which the buyers found decisive. The municipality combines excellent infrastructure with an attractive coastal location and year-round quality of life, which is why many German-speaking buyers choose it for permanent owner-occupation and a pleasant everyday life.
In short
Generous terraces, modern lifts, low-barrier access and contemporary layouts make penthouses especially attractive for many owner-occupiers. Perini Finance & Property arranged the financing and approaches 30+ banks per case.
- Large terraces and lifts attract many owner-occupiers: Generous terraces, modern lifts, low-barrier access and contemporary layouts make penthouses especially attractive for many owner-occupiers.
- 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.
- Penthouse at €918,000, loan €624,600: Purchase price: 918,000 €; Renovation: 51,800 €; Financing required: 624,600 €; Equity: 455,400 €.
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.
Between the marina, the beach and established residential districts: Benalmádena is one of the most versatile places to live on the Costa del Sol. The municipality combines excellent infrastructure with an attractive coastal location, good transport links and year-round quality of life. Many German-speaking buyers deliberately choose Benalmádena because modern living, short distances and a pleasant everyday life combine there.
This practical case shows how buying a high-quality penthouse for permanent owner-occupation can be financed.
Düsseldorf couple seeking a home for their last working years
A management consultant from Düsseldorf and her husband, an employed industrial engineer, planned to move their centre of life entirely to Spain within the next five years. Both already worked remotely several months a year and were looking for a property suitable both as a main residence and for the final working years.
The decision fell on a penthouse in a modern residential complex above the coast of Benalmádena. Decisive were the generous terrace, the low-barrier access, the good connection to Málaga and the quiet residential setting.
Total investment €1,080,000, equity €455,400: Purchase price: 918,000 €; Additional costs: 110,200 €; Renovation: 51,800 €; Total investment: 1,080,000 €; Equity: 455,400 €; Financing required: 624,600 €.
Let flat and portfolio stay, liquidity kept available
The buyers had solid assets from savings, securities and a rented apartment in Germany. Even so, liquidity was to be deliberately preserved in order to secure financial flexibility for later retirement.
In addition, the property was to be individually equipped before moving in.
Kitchen, bath, terrace floor and shading costed upfront: The penthouse was technically up to date. The planned measures therefore focused on comfort and personal living quality.
Planned were a custom-made kitchen with extended storage, the modernisation of the main bathroom, high-quality floor coverings on the terrace, optimised climate control for individual living areas and permanently installed sun-protection systems for year-round use of the outdoor areas.
All measures were calculated in detail before the purchase contract was concluded and fully included in the total investment.
68% of the price as a loan, the reserve stays free
The financing was set at around 68 % of the purchase price. This kept enough equity available, while at the same time creating a durable financing structure.
Alongside the purchase price, all additional costs and the planned modernisation measures were included in the overall plan from the outset — covered from equity, not by the bank loan. Later top-up financing was therefore not necessary.
Home ready, financial room to manoeuvre remains: Once the work was completed, a comfortable residence was created that offers the buyers optimal conditions both during their remaining working years and in later retirement.
The financing remained easy to plan and at the same time left enough financial room for future decisions.
Cost adjustments early, even for near-new property: High-quality new-build or nearly new properties, too, do not always fully match personal living ideas. Individual adaptations should therefore be calculated early and integrated into the overall plan — covered from equity, not by the bank loan.
Anyone planning a permanent move to Spain benefits from an overall plan that budgets all investments together from the start — the bank loan for the purchase price; costs and modernisation from equity.
Benalmádena: penthouse financing in a sought-after Costa del Sol spot
Benalmádena combines Mediterranean quality of life with modern infrastructure and an excellent location on the Costa del Sol. An overall plan that budgets the purchase price, additional costs and all planned modernisation together already at the acquisition — the bank loan for the purchase price, additional costs and modernisation from equity — creates the basis for a long-term relaxed centre of life in Spain.
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
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Frequently asked questions
Can individual equipment be co-financed directly?
As a rule the Spanish bank does not co-finance modernisation — it belongs in the overall plan: equity or raising capital against German property.
Why is existing wealth not used in full?
Many buyers want to preserve their financial flexibility and continue to use part of their assets as a reserve or investment.
How much equity was needed for the penthouse in Benalmádena with a total investment of 1,080,000 €?
The total investment of 1,080,000 € consisted of the purchase price of 918,000 €, additional costs of 110,200 € and renovation of 51,800 €. Of this, 455,400 € came from equity and the financing required was 624,600 €.
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.