Perini Finance & Property §34i GewO · Mortgages in Spain & Portugal
Case report · Portugal-Festland

Financing an apartment in Aveiro – Modern living between canals and the Atlantic

A project manager from Hamburg and her husband, a mechanical engineer, worked mostly remotely and wanted to move to Portugal permanently. They were looking for a modern apartment with a generous balcony, a lift and an additional room as a home office.

Key figures

At a glance

  • Purchase price: 515.000 €
  • Renovation: 59.250 €
  • Financing required: 350.200 €
  • Equity: 249.800 €

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 Portugal.

Quality of life in one of Portugal's most innovative cities

Aveiro is often called the "Venice of Portugal" because of its canals but has long since established itself as a modern economic and university location too. Its proximity to the Atlantic coast, excellent infrastructure and comparatively short distances make the city attractive for German-speaking buyers who want to move their permanent centre of life to Portugal. High-quality apartments in central locations in particular are in high demand.

Initial situation

A project manager from Hamburg and her husband, a mechanical engineer, worked mostly remotely and wanted to move to Portugal permanently. They were looking for a modern apartment with a generous balcony, a lift and an additional room as a home office. The suitable property was in a newer residential quarter of Aveiro but was to be individually adapted to their own needs before moving in.

Financing overview

  • Purchase price: 515.000 €
  • Additional costs: 25.750 €
  • Renovation: 59.250 €
  • Total investment: 600.000 €
  • Equity: 249.800 €
  • Financing required: 350.200 €

The challenge

The buyers had equity from savings and the sale of a smaller apartment. At the same time, they wanted to keep enough liquidity for the new start in Portugal and complete all modernisation before moving in.

Analysis

For a permanent move abroad in particular, a complete view of the investment is sensible. Alongside the purchase price, acquisition costs and all planned adaptations should be taken into account so the property meets personal requirements from day one.

With financing of around 68 % of the purchase price, a balanced financing solution emerged. The equity was used in a targeted way without unnecessarily restricting financial flexibility.

Financing solution

The financing covered all intended modernisation measures:

  • installation of a high-quality open-plan kitchen
  • modernisation of the bathroom
  • fit-out of a fully equipped home office
  • energy-efficient air conditioning
  • custom-made fitted wardrobes
  • electric shading of the balcony
  • structured network cabling and modern media technology

All work was completed immediately after the property acquisition.

Outcome

The apartment could be occupied without a further building phase. The buyers took up their professional activity directly from Portugal and at the same time had sufficient financial reserves for the further building of their life in Aveiro.

What other buyers can learn

For modern apartments too, complete financing planning is worthwhile. Anyone who calculates the purchase price, additional costs and individual modernisation together creates planning certainty and avoids later additional financing.

FAQ

Frequently asked questions

Can home-office adaptations be part of the financing?
Yes. If the measures are specifically planned and transparently calculated before the purchase, they can often be included in the overall financing.
Why is not all of the equity used?
Many buyers want to preserve financial reserves and not tie up all their assets in a property.
Which modernisations are especially in demand for apartments in Aveiro?
Kitchens, bathrooms, air conditioning, network cabling, lighting, shading and individual storage solutions are frequently modernised.
Is Aveiro suitable as a permanent residence?
Yes. Aveiro offers excellent infrastructure, a lively university city, good transport links, proximity to the Atlantic and a high quality of life for owner-occupiers.

Conclusion

An apartment in Aveiro combines modern city life with a high quality of living and good access to the Atlantic coast. Anyone who aligns the financing with the entire investment and considers modernisation from the start creates a durable basis for a permanent centre of life in Portugal.

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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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