Elegant Renovated Apartment in Palma's Historic Old Town
€1,650,000
Spain
Apartment
property type
3 days ago
listed
The Habio take
AI summaryThis refined three-bedroom apartment in Palma’s Old Town combines classic elegance with modern comfort, set in a beautifully restored historic building. Enjoy approximately 200 sqm of bright living space with characterful features in one of the island’s most vibrant areas.
- city
- historic
- luxury
Highlights
- Elegant renovation with high ceilings
- Original hydraulic tiles and decorative moldings
- Approximately 200 sqm of bright interior space
- Elevator access to the third floor
- Located in the heart of Palma's historic district
Worth knowing
- Third floor may not suit those preferring ground-level access
Good fit for: Ideal for buyers seeking a blend of history and modernity in a vibrant city.
Lifestyle scores
- Beach
- 80
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 85
- Investment
- 75
- Luxury
- 80
- Value
- 60
About this place
Elegant renovated apartment in Palma’s Old Town, set within a characterful historic building and beautifully restored to preserve its timeless architectural charm. Offering approximately 200 sqm of bright interior space on the third floor with elevator access, this refined residence combines classic elegance with contemporary comfort. High ceilings, original hydraulic tiles, decorative ceiling moldings and […]
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
