Five-Bedroom Penthouse with Terrace in El Encinar de los Reyes
€1,680,000
El Encinar de los Reyes, Madrid, Spain
- 5 bed
- 5 bath
- 168 m²
- Apartment
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
Full guide →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.
The buying process
- 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.
- NIE (foreign tax number)
- Spanish bank account(optional)
Not legally required but standard practice
- Passport / ID
- Proof of funds / mortgage offer
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
