Financing an apartment in Cadaqués – Living permanently in one of Spain's most extraordinary coastal settings
A couple from Zurich, both working as dentists, were planning the gradual transition into retirement. They were looking for a high-quality apartment with a generous terrace, a sea view and a short distance to the town centre of Cadaqués.
At a glance
- Purchase price: 1.080.000 €
- Renovation: 90.400 €
- Financing required: 648.000 €
- Equity: 652.000 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
A place with a special character
Cadaqués is one of the best-known towns on the Costa Brava. Its white architecture, sheltered bay and location by the Cap de Creus nature park give the coastal town an unmistakable character. Anyone who wants to settle here permanently finds only a limited supply of homes. Early, realistic financing planning is correspondingly important.
Initial situation
A couple from Zurich, both working as dentists, were planning the gradual transition into retirement. They were looking for a high-quality apartment with a generous terrace, a sea view and a short distance to the town centre of Cadaqués. The suitable property was in a well-kept building but was to be modernised technically and made more comfortable before moving in.
Financing overview
- Purchase price: 1.080.000 €
- Additional costs: 129.600 €
- Renovation: 90.400 €
- Total investment: 1.300.000 €
- Equity: 652.000 €
- Financing required: 648.000 €
The challenge
The buyers had sufficient assets but did not want to invest all their liquid funds in the purchase. At the same time, the apartment was to meet the requirements for comfortable, permanent living immediately after the purchase, so all modernisation was planned from the start.
Analysis
In highly sought-after towns like Cadaqués, many buyers focus on the location. For robust financing, however, the entire investment is decisive. Alongside the purchase price, additional costs and modernisation measures also belong in the overall planning.
The financing corresponded to 60 % of the purchase price and allowed a balanced combination of equity and long-term financing. This kept part of the assets flexibly available.
Financing solution
All planned measures were included in the financing:
- installation of a modern designer kitchen
- renewal of both bathrooms
- energy-efficient air conditioning
- custom-made fitted wardrobes
- intelligent lighting control
- electric sun-protection systems on the terrace
- network and media technology for permanent working from Spain
The modernisation was completed in full before moving in.
Outcome
The apartment could be occupied permanently immediately after the work was completed. At the same time, the buyers kept enough financial room for their further life and retirement plans. The financing covered the entire investment requirement without later additions.
What other buyers can learn
In exclusive residential settings like Cadaqués, the purchase price should not be considered alone. A complete calculation of the total investment ensures planning certainty and prevents necessary modernisation from having to be carried out only after moving in.
Frequently asked questions
Is financing sensible even with high equity?
Which modernisations are especially usual for high-quality apartments?
Can all modernisation be taken into account directly?
Why is Cadaqués so sought-after by owner-occupiers?
Conclusion
An apartment in Cadaqués is, for many buyers, the realisation of a long-held living dream. Anyone who considers the purchase price, additional costs and modernisation as an overall concept and structures the financing accordingly creates a reliable basis for permanent life on one of Spain's most beautiful coasts.
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Every financing in Spanien is an individual case. In a free initial consultation I will tell you honestly what is feasible and which bank fits.
Book a free consultationAnonymised individual case, not a binding statement for other projects · Siegfried Perini, BAFA-notified for the cross-border activity of the owner Olga Nikushkina · §34i GewO · no tax or legal advice · no financing commitment; conditions depend on creditworthiness, loan-to-value and bank
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