Practical case Tenerife: Apartment in Santa Cruz de Tenerife – Living in the island capital rather than a holiday resort
The buyer was a corporate lawyer; his wife headed the European sales of a medical technology company. Both planned to split their work between Germany and Tenerife for a few more years before moving their centre of life to the island entirely.
In short
What was this case about?
The buyer was a corporate lawyer; his wife headed the European sales of a medical technology company. Both planned to split their work between Germany and Tenerife for a few more years before moving their centre of life to the island entirely.
Is Santa Cruz de Tenerife suitable as a permanent place to live?
Many buyers deliberately choose the island capital because it offers all the important everyday amenities year-round and is far less shaped by tourism than many coastal towns.
Why were the modernisation costs taken into account directly?
So that all work could be completed immediately after the transfer of ownership, without having to arrange additional financing later.
Who arranged this?
Perini Finance & Property — German-speaking, operating under the §34i GewO licence held by Olga Nikushkina, Portugal through a locally licensed intermediary; 15 to 20 banks approached per case. First call free; on completion 1 % of the loan amount.
€845,000 price, €591,500 loan for the apartment
- Purchase price: 845.000 €
- Financing required: 591.500 €
- Equity: 431.350 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Property for sale in Santa Cruz de Tenerife: in the middle of life rather than in the middle of tourism
A couple from Frankfurt had originally had the south of Tenerife in mind. During their viewing trip, however, they spent several days in Santa Cruz de Tenerife and quickly realised they were not looking for a classic holiday property.
Instead, they wanted a permanent residence with short distances, excellent infrastructure, cultural amenities and lively city life. In the end they chose a generous apartment in a modern residential building with a large terrace and a view across parts of the city to the Atlantic.
Sale of a German flat plus savings provide the equity
The buyer was a corporate lawyer; his wife headed the European sales of a medical technology company. Both planned to split their work between Germany and Tenerife for a few more years before moving their centre of life to the island entirely.
The equity came mainly from the sale of an apartment in Germany and from many years of savings.
€1,022,850 total, €68,000 for kitchen and smart home
- Purchase price: 845.000 €
- Additional costs: 109.850 €
- Renovation (kitchen, air conditioning, fitted furniture and smart-home system): 68.000 €
- Total investment: 1.022.850 €
- Equity: 431.350 €
- Financing required: 591.500 €
The financing share corresponded to around 70 % of the purchase price.
Fitted kitchen, cooling and smart home within weeks
The apartment was in excellent condition but did not fully match the buyers' ideas.
Planned were a high-quality fitted kitchen, custom-made storage solutions, modern air conditioning and the integration of a smart-home system.
Because the apartment was to be used just a few weeks after purchase, all work had to be planned early.
Every measure costed before the purchase contract
Before the purchase contract was concluded, all planned measures were calculated in detail and included, together with the purchase price and additional costs, in the total investment.
In parallel, a financing plan was drawn up that took into account not only the current income situation but also the later permanent residence on Tenerife.
The buyers deliberately chose to keep part of their assets as a financial reserve.
70% financed, the rest from existing own funds
The financing was set at around 70 % of the purchase price.
The additional costs and a considerable share of equity were paid from existing own funds.
All planned modernisations were also fully included in the overall plan. This meant the apartment could be completed immediately after the transfer of ownership.
Already used for longer stays on the island
Just a few months later, the couple was using the apartment regularly for longer stays on Tenerife.
Today the property offers everything needed for the later permanent move and already meets all the requirements for modern living in a lively island capital.
Santa Cruz: city living instead of a holiday resort
Not every future centre of life has to be in a classic holiday resort. Cities like Santa Cruz offer excellent infrastructure for anyone who wants to live on Tenerife year-round and values short distances and urban life.
Frequently asked
Is Santa Cruz de Tenerife suitable as a permanent place to live?
Why were the modernisation costs taken into account directly?
Why was part of the equity kept?
Santa Cruz de Tenerife apartment financed while keeping reserves
Buying an apartment in Santa Cruz de Tenerife shows that successful property financing should always be aligned with one's personal life plan. Anyone who uses equity deliberately, takes modernisation into account early and preserves financial reserves creates a solid basis for a permanent home on Tenerife.
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Book a free consultationAnonymised 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