Benalmádena: Financing a penthouse with a sea view for a permanent centre of life
A management consultant from Düsseldorf and her husband, an employed industrial engineer, planned to move their centre of life entirely to Spain within the next five years. Both already worked remotely several months a year and were looking for a property suitable both as a main residence and for the final working years.
At a glance
- Purchase price: 918.000 €
- Renovation: 51.800 €
- Financing required: 624.600 €
- Equity: 455.400 €
Anonymised case figure · not a binding statement for other projects · §34i GewO
Between the marina, the beach and established residential districts
Benalmádena is one of the most versatile places to live on the Costa del Sol. The municipality combines excellent infrastructure with an attractive coastal location, good transport links and year-round quality of life. Many German-speaking buyers deliberately choose Benalmádena because modern living, short distances and a pleasant everyday life combine there.
This practical case shows how buying a high-quality penthouse for permanent owner-occupation can be financed.
Initial situation
A management consultant from Düsseldorf and her husband, an employed industrial engineer, planned to move their centre of life entirely to Spain within the next five years. Both already worked remotely several months a year and were looking for a property suitable both as a main residence and for the final working years.
The decision fell on a penthouse in a modern residential complex above the coast of Benalmádena. Decisive were the generous terrace, the low-barrier access, the good connection to Málaga and the quiet residential setting.
Financing overview
- Purchase price: 918.000 €
- Additional costs: 110.200 €
- Renovation: 51.800 €
- Total investment: 1.080.000 €
- Equity: 455.400 €
- Financing required: 624.600 €
The challenge
The buyers had solid assets from savings, securities and a rented apartment in Germany. Even so, liquidity was to be deliberately preserved in order to secure financial flexibility for later retirement.
In addition, the property was to be individually equipped before moving in.
Analysis
The penthouse was technically up to date. The planned measures therefore focused on comfort and personal living quality.
Planned were a custom-made kitchen with extended storage, the modernisation of the main bathroom, high-quality floor coverings on the terrace, optimised climate control for individual living areas and permanently installed sun-protection systems for year-round use of the outdoor areas.
All measures were calculated in detail before the purchase contract was concluded and fully included in the total investment.
Financing solution
The financing was set at around 68 % of the purchase price. This kept enough equity available, while at the same time creating a durable financing structure.
Alongside the purchase price, all additional costs and the planned modernisation measures were financed together. Later top-up financing was therefore not necessary.
Outcome
Once the work was completed, a comfortable residence was created that offers the buyers optimal conditions both during their remaining working years and in later retirement.
The financing remained easy to plan and at the same time left enough financial room for future decisions.
What other buyers can learn
High-quality new-build or nearly new properties too do not always fully match personal living ideas. Individual adaptations should therefore be calculated early and integrated into the overall financing.
Anyone planning a permanent move to Spain benefits from financing that takes all investments into account from the start.
Frequently asked questions
Why do many owner-occupiers choose Benalmádena?
Are penthouses suitable for permanent owner-occupation?
Can individual equipment be co-financed directly?
Why is existing wealth not used in full?
Conclusion
Benalmádena combines Mediterranean quality of life with modern infrastructure and an excellent location on the Costa del Sol. Financing that takes the purchase price, additional costs and all planned modernisation into account already at the acquisition creates the basis for a long-term relaxed centre of life in Spain.
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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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