Playa de Gandia: Financing a beachside apartment for a permanent centre of life
A married couple from Rhineland-Palatinate, both long active in healthcare, were planning the transition into retirement. Instead of a classic holiday property, they were looking for a home that can be used year-round and offers short distances to the beach and to shops.
At a glance
- Purchase price: 598.000 €
- Renovation: 30.200 €
- Financing required: 388.700 €
- Equity: 311.300 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Living year-round with direct proximity to the Mediterranean
The Playa de Gandia is one of the best-known beaches on the Costa de Valencia. While many visitors associate the place with summer holidays, more and more German-speaking buyers deliberately choose a permanent residence right by the sea. Outside the peak season, the Playa de Gandia offers a quiet residential environment, generous promenades and good infrastructure for everyday life.
This practical case shows how buying a beachside apartment for owner-occupation can be financed over the long term.
Initial situation
A married couple from Rhineland-Palatinate, both long active in healthcare, were planning the transition into retirement. Instead of a classic holiday property, they were looking for a home that can be used year-round and offers short distances to the beach and to shops.
After a longer search they chose a generous apartment in the second row from the sea at the Playa de Gandia. The residential complex had a lift, an underground garage and extensive communal areas.
Financing overview
- Purchase price: 598.000 €
- Additional costs: 71.800 €
- Renovation: 30.200 €
- Total investment: 700.000 €
- Equity: 311.300 €
- Financing required: 388.700 €
The challenge
The buyers had equity from the sale of their previous home. Even so, they deliberately wanted to keep financial reserves for retirement and not liquidate their investments entirely.
Before moving in, the apartment was to be adapted to the requirements of year-round living.
Analysis
The property was in good structural condition. The planned measures focused on comfort, functionality and protection from the climatic conditions in the immediate vicinity of the sea.
Planned were a new fitted kitchen, the modernisation of the bathroom, the replacement of several windows with more salt-air-resistant versions with improved thermal protection, modern air conditioning with individual room control and high-quality fitted wardrobes in the bedroom and entrance area.
As all measures were defined before the purchase contract was concluded, they could be fully included in the total investment.
Financing solution
The financing was set at around 65 % of the purchase price. This kept enough equity as a long-term reserve, while at the same time creating an easily calculable monthly burden.
Alongside the purchase price, all acquisition costs and all planned modernisation were fully integrated into the financing. Later top-up financing was therefore not required.
Outcome
Once the work was completed, a comfortable apartment was created that is optimally tuned to year-round living by the sea. The buyers were able to shift their centre of life to Spain gradually and still have sufficient financial reserves.
The financing remained stable over the long term and suited the income situation in retirement.
What other buyers can learn
An apartment near the beach places different requirements than a property inland. Materials, air conditioning and windows should be tuned to the coastal climate. If these measures are planned already at the purchase, a realistic overall calculation emerges and later surprises can be avoided.
Frequently asked questions
Is the Playa de Gandia also suitable for permanent living?
Can coast-specific modernisation be co-financed?
Why is existing equity not used in full?
Which properties are especially in demand at the Playa de Gandia?
Conclusion
The Playa de Gandia combines life by the Mediterranean with good infrastructure and a high quality of living throughout the year. Financing that takes the purchase price, additional costs and all planned modernisation into account together from the start creates the basis for a relaxed and long-term centre of life on the Spanish coast.
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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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