Fuengirola: Financing an apartment near the beach for a permanent centre of life
An HR manager and a mechanical engineer from Frankfurt planned to move their centre of life entirely to the Costa del Sol within the next four years. Until then, the apartment was to be used regularly, while both worked mostly from home.
At a glance
- Purchase price: 682.000 €
- Renovation: 36.200 €
- Financing required: 463.400 €
- Equity: 336.600 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Urban living with short everyday distances
Fuengirola is one of the liveliest places to live on the Costa del Sol. The town offers excellent infrastructure with shops, restaurants, medical care, a rail connection to Málaga and miles-long beaches. For German-speaking buyers who want to live in Spain year-round in particular, Fuengirola combines urban comfort with Mediterranean quality of life.
This practical case shows how acquiring a high-quality apartment for permanent owner-occupation can be financed.
Initial situation
An HR manager and a mechanical engineer from Frankfurt planned to move their centre of life entirely to the Costa del Sol within the next four years. Until then, the apartment was to be used regularly, while both worked mostly from home.
They were looking for a generous apartment with two studies, a large terrace and walking distance to the beach and to the Fuengirola station.
After several viewings they chose a modern apartment in a well-kept residential complex.
Financing overview
- Purchase price: 682.000 €
- Additional costs: 81.800 €
- Renovation: 36.200 €
- Total investment: 800.000 €
- Equity: 336.600 €
- Financing required: 463.400 €
The challenge
The buyers had equity from savings and a well-developed securities portfolio. At the same time, they wanted to keep part of their assets deliberately invested and not put it entirely into the purchase.
In addition, the apartment was to be functionally adapted to the requirements of permanent living before moving in.
Analysis
The property was in very good structural condition. The planned investments therefore focused on individual living quality and functionality.
Planned were a new fitted kitchen with extended work surfaces, the modernisation of a bathroom, custom-made fitted wardrobes, zone-controllable air conditioning and the conversion of a guest room into a fully equipped home office with an integrated acoustic solution.
As all measures were defined before the purchase, they could be fully integrated into the financing.
Financing solution
The financing was set at around 68 % of the purchase price. This kept enough equity for long-term asset planning and personal reserves.
Alongside the purchase price, all additional costs and the planned modernisation were taken into account in joint financing. Additional financing measures after the acquisition were therefore not required.
Outcome
Once the work was completed, a comfortable apartment was created that meets the requirements both of the remaining working years and of the later plans for retirement.
The buyers were able to extend their stays in Spain gradually and prepare the final move over the long term.
What other buyers can learn
In cities like Fuengirola in particular, a look at well-located existing apartments is worthwhile. They often offer more generous layouts than new builds and can be optimally adapted to one's own needs with targeted modernisation.
An early integration of these measures into the financing ensures a reliable overall calculation.
Frequently asked questions
Why is Fuengirola attractive for owner-occupiers?
Do modern apartments often have to be adapted too?
Can these measures be financed directly?
Why is equity deliberately kept?
Conclusion
Fuengirola combines city life with Mediterranean flair and offers ideal conditions for a permanent residence on the Costa del Sol. Financing that takes the purchase price, additional costs and all planned modernisation into account together creates the basis for a long-term relaxed start in the new chapter of life.
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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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