The premise of the real estate annuity is to ensure a supplementary pension during retirement by obtaining a monthly income.

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What is the Real Estate Annuity?


The real estate annuity is a service aimed at people over 65 years of age who own a home. The homeowner sells the bare ownership of the house in exchange for a monthly annuity and retains the right to continue to use the home for as long as he/she lives. This allows the seller to ensure the receipt of a monthly pension for life, thus improving his purchasing power, which he can use to provide assistance at home or simply use it for any other expense that until now was not within his reach.

What modalities exist?

In all these modalities, an initial capital advance to be defined may be requested.

Classic temporary income

In this modality, the Elderly Person maintains the usufruct of the dwelling for life, however, the collection of monthly rents will be made in a previously determined period of time.

Classic annuity

A monthly annuity is received in exchange for the sale of the bare ownership of the property, reserving in turn the right of usufruct of the property during its lifetime. This is the most common modality.

Annuity outside the home

The Elderly Person waives the right to use the home, but in exchange receives a higher monthly payment than the classic annuity. This modality is aimed at those people who wish to leave their home to move to a residence, for example.

Life Annuity Calculator

With the Mas Vida calculator you will be able to calculate the approximate pension you are entitled to. To do this, simply select the data relating to your home and age and we will show you the result:

Do you want to know your Calculation?

Fill in Calculator Format or Call us: + (34) 952 85 1613 or Write to us at Email:


How is a Real Estate Annuity calculated?

In City Málaga – Mas Vida we consider the following factors to calculate the Monthly Annuity that corresponds to you:

  • Market value of the house
  • Rental value of the house
  • Age and gender of owner

Both the market value and the rental value of the house are obtained through valuations issued by independent appraisal companies approved by the Bank of Spain. With the age and sex of the owner, we consult the longevity in the tables issued annually by the National Institute of Statistics and the Directorate General of Insurance.

Knowing this information, we quantify the rent you would have to pay (up to your life expectancy) if you were a tenant, and finally we deduct it from the market value of the house to determine the amount that corresponds to you.

Advantages of the Real Estate Annuity

Formalization expenses

All expenses and taxes generated in the sale and purchase (including the Municipal Capital Gains Tax) will be paid in full by the buyer, so that the formalization of the transaction will be totally free for the seller.

Legal guarantees

It has all the legal guarantees, since it is a transaction that is formalized before a notary public and registered in the Land Registry. In addition, the Deed of Sale includes a Resolutory Condition that represents the maximum legal guarantee for a hypothetical case of non-payment of two of the rents, based on which the Elderly Person recovers full ownership of the property without having to return the monthly rents already received.

Property expenses

The usufructuary will forever cease to pay the Real Estate Tax, the Community fees and the building insurance. You will only have to pay the ordinary community fees, utility bills (water, electricity, etc.) and the municipal garbage tax.

Shared ownership

The operation can be formalized by 2 persons or spouses, as long as they have the ownership of the property.

Rental and sale of usufruct

The usufructuary has the right to rent the dwelling or sell the usufruct if he/she deems it convenient.

Excellent tax treatment

People over 70 years of age enjoy an excellent tax treatment, since they have a 92% exemption on the amount they receive as income when filing their personal income tax return.

Steps to follow to formalize a Real Estate Annuity Income Annuity

We help you in the whole process and formalization. Contact us and we will give you all the information and advantages of this product.


  • Preferably 65 years of age or older.
  • Owning a property

Formalization process

  1. We meet with the interested party to learn about their preferences and specific needs.
  2. We analyze your case internally and present you with several payment proposals.
  3. We are looking for an investor interested in acquiring the house according to previously agreed conditions.
  4. The transaction is formalized before a notary and registered in the Land Registry.

In addition, after the formalization, the beneficial owners have the assistance and support of the Mas Vida team for the duration of the contract, since we act as a direct link in any question or procedure that may arise with the buyer.

Frequently Asked Questions

One or two persons, as long as they are the owners of the house.

An investor with extensive experience and a high level of specialization in the Spanish real estate market. At Mas Vida we work with the best professionals in the sector.

At the time of formalizing the product before a notary.

Yes, the amount you receive as a Single Payment can be used for any purpose you choose.

No, regardless of where you live you will continue to maintain the Right of Use and Enjoyment over it.

Yes, this allows you to get an income every month. At Mas Vida we take care of finding a tenant and managing the rent so you don’t have to worry about anything.

These types of expenses continue to be borne by the user, since the only maintenance expenses of the house that are transferred to the investor are the real estate tax, extraordinary payments and home insurance.

The Sole Payment (transfer of the Nuda Propiedad) is regulated in the Spanish Civil Code in articles 467 and 469.

The freehold of a house is composed of 2 rights:

  • Nuda propiedad
  • Usufruct

In Mas Vida we transfer the Right of Nuda Propiedad of your house, while you keep the Right of Use and Enjoyment over it for life.

Explore other Possibilities


Receive a one-time payment in exchange for the sale of the freehold of your home and continue to use it for life.


Thanks to a previously stipulated monthly payment, you will be able to meet those expenses that until now were not within your reach and continue to enjoy your home forever.


Reverse housing is a flexible and efficient financial solution for seniors to monetize all the savings they have deposited in their homes.


Sell your home and continue to enjoy it as a tenant, thus getting rid of the costs of being a homeowner.


With the Reverse Mortgage you will receive a monthly periodic payment and the possibility of a one-time payment at the time of incorporation. You will retain ownership and usufruct of the house and will not have to repay the mortgage during your lifetime if you choose to do so.


with City Malaga Financial Services ?

In City Málaga – Mas Vida we consider the following factors to determine the Monthly Rent that corresponds to the usufructuary:

  • Market value of the house
  • Rental value of the house
  • Owner’s gender and age

If you are interested in a Real Estate Life Annuity Income study, we need you to send us the following information to our e-mail address :

  • Personal information of the interested party (copy of NIF, NIE or Passport).
  • Documentation of the house (exact address of the property and the last receipt of the Real Estate Tax).
  • Contact telephone number.

Contact Us

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