German house kept, not sold: €992,000 for a villa in Pollensa
A couple from Rhineland-Palatinate had dreamed for many years of spending their retirement on Mallorca. After numerous stays on the island, it was clear that Pollensa would be the ideal place. The historic old town, the proximity to the Port de Pollença and the impressive landscape of the Serra de Tramuntana offered exactly the mix of peace, culture and nature they were looking for.
Why keep the German house when buying a villa in Pollensa?
Many buyers deliberately keep their house or apartment, for example for family reasons or as an additional investment. In this case all work could be carried out after handover without interruption, so no later financing was required. We arrange the financing and approach 30+ banks per case. The first call is free.
Key figures: €1.42m villa, €992,000 loan, €130,000 for modernisation
- Purchase price: 1,420,000 €
- Renovation: 130,000 €
- Financing required: 992,000 €
- Equity: 742,600 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
A new home between the Tramuntana and the Mediterranean
After a longer search, they found a detached villa with a pool, a Mediterranean garden and generous living space in a quiet residential area.
Pension and rent carry it, the German house stays: Both buyers had a regular pension income as well as additional income from a rented apartment in Germany. They also owned a debt-free single-family house that was to be kept for now, as the family still wanted to use it from time to time.
As the property in Germany was not to be sold, the financing had to be sustainable solely on the basis of the available income and equity.
€1.73m total, €184,600 in purchase costs
The total investment was 1,734,600 €, of which 184,600 € were additional costs, with 742,600 € of equity and 992,000 € of financing required.
Purchase price: 1,420,000 €; Additional costs: 184,600 €; Renovation: 130,000 €; Total investment: 1,734,600 €; Equity: 742,600 €; Financing required: 992,000 €.
The financing share corresponded to around 70 % of the purchase price.
New heat pump, windows, kitchen and bathrooms: The villa was in very well-kept condition. Nevertheless, it was to be energetically modernised and adapted to the couple's own living habits. Planned were new air conditioning, the replacement of the windows, a modern heat pump as well as the redesign of the kitchen and the bathrooms.
At the same time, the buyers deliberately wanted to keep their property in Germany and not use it for the financing.
Budget built on pension plus rental income
At the centre was a long-term sustainable household calculation. In addition to the pension income, the regular rental income was also taken into account.
All renovation costs were then fully calculated and included in the total investment before the purchase.
As sufficient equity was available, a financing could be chosen that offered both planning security and financial flexibility.
70 % loan, the works planned in from day one
The financing was built on around 70 % of the purchase price.
The additional costs as well as a considerable part of the purchase price were borne from own funds.
All renovation measures were also part of the overall plan from the outset — covered from equity, not by the bank loan. This allowed the work to begin immediately after the transfer of ownership, without additional capital being needed later.
Two houses, two purposes, both kept: Within a few months, the villa was fully renovated and adapted to personal wishes.
The couple now enjoy a large part of the year in Pollensa and continue to use the house in Germany for stays with family and friends. Both properties complement each other sensibly and meet different needs.
Buying in Spain need not mean selling at home
Buying a property in Spain does not necessarily require selling the previous home. Anyone with sufficient income and equity can sensibly integrate both properties into their long-term life planning.
Villa in Pollensa: wealth, income and housing plans aligned: The purchase of a villa in Pollensa shows that property financing should always take the entire personal situation into account. Anyone who sensibly combines existing wealth, ongoing income and future housing plans creates a long-term stable basis for the dream of life on Mallorca.
Similar cases by region and price band: Cases with a comparable region and price band — for context, not a promise of the same outcome.
Modern apartment in Port d'Andratx — case report: Anonymised case from Mallorca: modern apartment in Port d'Andratx. Mortgage financing for non-residents.
Frequently asked questions
Is rental income relevant to financing planning?
Regular and verifiable rental income can be part of the overall economic situation and contributes to a realistic financing plan.
Which renovation was planned for the villa in Pollensa?
Planned were new air conditioning, the replacement of the windows, a modern heat pump as well as the redesign of the kitchen and the bathrooms. All renovation measures were covered from equity, not by the bank loan.
How was pension income taken into account in the financing of the villa in Pollensa?
At the centre was a long-term sustainable household calculation. In addition to the pension income, the regular rental income was also taken into account.
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.
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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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.