Valencia: Financing an apartment in the Pla del Real district for a permanent centre of life
A project manager from Cologne and her husband, an auditor, planned to continue their professional activity for a few more years, mostly from home. After that, Valencia was to become their permanent new centre of life.
At a glance
- Purchase price: 586.000 €
- Renovation: 23.700 €
- Financing required: 381.600 €
- Equity: 298.400 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Urban living between parks, culture and the Mediterranean
Valencia is one of the most popular cities in Spain for people who want to move their centre of life abroad permanently. The city combines historic architecture with modern infrastructure, excellent medical care, an international airport and a high quality of life. Districts like Pla del Real in particular are in demand among owner-occupiers because they combine quiet living with short distances to the city centre.
This practical case shows how buying an apartment for permanent owner-occupation can be sensibly financed.
Initial situation
A project manager from Cologne and her husband, an auditor, planned to continue their professional activity for a few more years, mostly from home. After that, Valencia was to become their permanent new centre of life.
After an intensive search they chose a generous apartment in Pla del Real. Decisive were the proximity to the Turia gardens, the good public transport links and the quiet residential setting.
Financing overview
- Purchase price: 586.000 €
- Additional costs: 70.300 €
- Renovation: 23.700 €
- Total investment: 680.000 €
- Equity: 298.400 €
- Financing required: 381.600 €
The challenge
The buyers had equity from long-term savings and a rented apartment in Germany. At the same time, they did not want to liquidate their investments entirely and wanted to keep sufficient financial reserves.
Before moving in, the apartment was also to be functionally modernised and adapted to the requirements of a permanent residence.
Analysis
The apartment was in well-kept condition. The intended measures therefore focused on comfort and everyday practicality.
Planned were a modern fitted kitchen with more storage, the redesign of the main bathroom, the replacement of the interior lighting with energy-efficient LED systems, zone-controlled air conditioning and the conversion of a room into a quiet home office with custom-made fitted furniture.
All work was calculated in detail before the purchase contract was concluded and fully included in the total investment.
Financing solution
The financing was set at around 65 % of the purchase price. This kept a considerable part of the equity available and the monthly burden easily calculable over the long term.
Alongside the purchase price, all additional costs and the planned modernisation were financed together. Additional loans after the acquisition were therefore not required.
Outcome
Once the work was completed, a modern city apartment was created that offers the buyers optimal conditions both during their remaining working years and in later retirement.
The financing remained balanced and at the same time left enough financial room for travel and further private plans.
What other buyers can learn
Valencia is one of the cities where high-quality existing apartments often offer more living quality and better locations than many new builds. At the same time, individual adaptations should be planned realistically already at the time of purchase.
Complete financing of all investments ensures planning certainty and considerably eases the later move.
Frequently asked questions
Why is Valencia especially attractive for owner-occupiers?
Can modernisation be a direct part of the financing?
Why is not all of the equity used?
Which properties are especially in demand in Valencia?
Conclusion
Valencia combines urban living, Mediterranean quality of life and excellent infrastructure. Financing that takes the purchase price, additional costs and all planned modernisation into account from the start creates a solid basis for a long-term centre of life in one of Spain's most attractive cities.
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To the case report →A similar situation in Spanien? Let's talk.
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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