Beautifully Renovated Penthouse with Large Terrace in Son Armadams
€895,000
Spain
Penthouse
property type
2 days ago
listed
The Habio take
AI summaryThis spacious penthouse features a remarkable private terrace, perfect for outdoor living. Located in Son Armadams, a desirable area of Palma, you'll enjoy proximity to the Paseo Marítimo and the lively Santa Catalina district.
- luxury
- terrace
- walkable
- city
- investment
Highlights
- Large private terrace on the same level
- Beautifully renovated interior
- Located in a sought-after residential area
- Close to the Paseo Marítimo
- Small building with only seven residents
Worth knowing
- No parking information provided
- Potentially limited local amenities
Good fit for: Ideal for a discerning buyer seeking a stylish urban retreat.
Lifestyle scores
- Beach
- 80
- Walkable
- 85
- Remote work
- 70
- Family
- 55
- Retirement
- 65
- Airport access
- 70
- Investment
- 75
- Luxury
- 80
- Value
- 65
About this place
Discover this beautifully renovated penthouse with an exceptional private terrace on the same level, located in Son Armadams, one of Palma’s most sought-after residential areas, just minutes from the Paseo Marítimo, Bellver Castle park and the vibrant Santa Catalina district. Set within an intimate and well-maintained building of only seven residents, this elegant home offers […]
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
