Five-Bedroom Penthouse with Terrace in El Encinar de los Reyes
€1,680,000€10,000/m²
El Encinar de los Reyes, Madrid, Spain
5
bedrooms
5
bathrooms
168 m²
interior
Apartment
property type
19 May 2026
listed
The Habio take
AI summaryThis magnificent penthouse offers five bedrooms and five bathrooms, complemented by a large terrace with stunning views. Situated in the prestigious El Encinar de los Reyes, Madrid, it boasts excellent amenities including a gym and security features.
- luxury
- family
- city
- garden
Highlights
- Large terrace with views
- Five spacious bedrooms
- Five modern bathrooms
- Access to gym and paddle tennis court
- Three dedicated parking spaces
Worth knowing
- High price point for the area
- Potential for high management fees
- May require updated interior design
Good fit for: Ideal for families seeking luxury living in a secure environment.
Lifestyle scores
- Beach
- 0
- Walkable
- 60
- Remote work
- 75
- Family
- 90
- Retirement
- 70
- Airport access
- 80
- Investment
- 85
- Luxury
- 90
- Value
- 65
About this place
Magnificent penthouse in excellent condition with a large terrace and views in a development with security, gym, paddle tennis court and three parking spaces for sale in El Encinar de los Reyes.
Buying property in Spain
Spain welcomes foreign buyers with no nationality restrictions. The buyer needs an NIE (Número de Identidad de Extranjero) before completion, and most buyers open a Spanish bank account to handle the deposit and ongoing charges. An independent lawyer (abogado) is strongly recommended — the notario only checks the deed, not the wider title.
- 1
Get an NIE
Apply for the foreign-resident tax number at a Spanish consulate, police station, or via a representative with power of attorney.
- 2
Open a Spanish bank account
Needed for the deposit, taxes, mortgage payments, and utilities.
- 3
Engage an independent lawyer
Lawyer runs title, debts, planning, and community-of-owners checks — the notario will not.
- 4
Reservation contract
Small deposit (€3,000–€10,000) takes the property off the market while due diligence runs.
- 5
Sign the contrato de arras
Private purchase contract with a 10% deposit. If the buyer pulls out they lose it; if the seller pulls out they pay double.
- 6
Sign the escritura pública
Final public deed signed before a notario; balance and taxes paid; keys handed over.
- 7
Register the property
Lawyer registers the deed at the Registro de la Propiedad and arranges utility and IBI transfers.
Spain ended its Golden Visa property route in April 2025. Non-resident mortgages are widely available, typically 60–70% LTV. Non-resident sellers face a 3% withholding from the sale price (retención), claimable against capital gains tax. Always check community-of-owners (comunidad) debts and outstanding IBI before completion — they transfer with the property.
General guidance only — confirm specifics with a qualified local lawyer or tax adviser. Reference
