Perini Finance & Property §34i GewO · Mortgages in Spain & Portugal
Case report · Costa Brava

Financing an apartment in L'Escala – Barrier-free into retirement on the Costa Brava

A former head teacher from Switzerland was looking, after entering retirement, for a permanently usable apartment in L'Escala. Important were a lift, a generous terrace and a quiet residential setting with good access to doctors, shops and the beach promenade.

Key figures

At a glance

  • Purchase price: 455.000 €
  • Renovation: 40.400 €
  • Financing required: 318.500 €
  • Equity: 231.500 €

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 Spanien.

A new chapter of life by the sea

L'Escala combines Mediterranean flair with an established infrastructure and is one of the popular places to live on the Costa Brava for people who want to spend their retirement permanently in Spain. Modern or subsequently adapted apartments with short distances to the beach and the town centre are especially popular with German-speaking buyers.

Initial situation

A former head teacher from Switzerland was looking, after entering retirement, for a permanently usable apartment in L'Escala. Important were a lift, a generous terrace and a quiet residential setting with good access to doctors, shops and the beach promenade. The apartment she found largely met these requirements but was to be modernised for age-appropriate living before moving in.

Financing overview

  • Purchase price: 455.000 €
  • Additional costs: 54.600 €
  • Renovation: 40.400 €
  • Total investment: 550.000 €
  • Equity: 231.500 €
  • Financing required: 318.500 €

The challenge

Although sufficient assets were available, not all of the capital was to be used for the purchase. Part of the assets was to remain as a reserve for retirement. At the same time, it was important to carry out all planned adaptations before moving in, in order to avoid later building work.

Analysis

For buyers in retirement, long-term financial planning often plays a greater role than the lowest possible loan amount. What matters is that, alongside the purchase, enough financial flexibility remains for the new chapter of life.

The financing corresponded to around 70 % of the purchase price and was aligned with the entire investment. This allowed both the acquisition costs and the planned modernisation to be sensibly integrated into the overall concept.

Financing solution

The financing took all intended measures into account immediately after the purchase:

  • conversion of the bathroom to a low-barrier design
  • installation of level-access showers
  • new fitted kitchen with ergonomic planning
  • electric terrace shading
  • energy-efficient air conditioning
  • modern LED lighting in all living areas

Once the work was completed, the apartment could be occupied permanently without further restrictions.

Outcome

The buyer moved to L'Escala as planned and was able to use the property fully immediately after the modernisation was complete. Thanks to the balanced financing, a considerable part of her assets remained available at the same time, without later conversions or additional financing being required.

What other buyers can learn

Anyone planning retirement on the Costa Brava should consider necessary adaptations for comfort and accessibility before the purchase. If these measures are integrated directly into the overall financing, neither additional organisational burdens nor unexpected financing gaps arise after moving in.

FAQ

Frequently asked questions

Can accessibility measures be co-financed directly?
Yes. If the conversions are specifically planned and transparently calculated at the planning stage, they can often be part of the overall financing.
Why is financing sensible despite existing assets?
Many buyers do not want to tie up all their capital in a property but keep reserves for retirement or unforeseen expenses.
Which modernisations are especially common for apartments in L'Escala?
Alongside kitchens and bathrooms, air conditioning, shading, lighting, low-barrier adaptations and energy-efficient windows are among the most common measures.
Is L'Escala suitable as a permanent residence?
Yes. The town has good infrastructure, medical care, shopping and year-round living quality that makes it attractive to many German-speaking expatriates.

Conclusion

Buying an apartment in L'Escala shows how well-considered financing can go far beyond the purchase price itself. Anyone who takes modernisation, additional costs and sufficient financial reserves into account from the start creates a stable basis for a relaxed retirement on the Costa Brava.

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Anonymised 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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