Stunning Duplex Penthouse in Historic El Terreno, Palma
€1,390,000
Spain
Penthouse
property type
3 weeks ago
listed
The Habio take
AI summaryThis exquisite duplex penthouse in El Terreno offers a blend of modern luxury and historical charm, situated just steps from the iconic Bellver Castle. Experience refined elegance and contemporary comfort in this beautifully renovated residence.
- luxury
- city
- historic
Highlights
- Duplex layout with ample living space
- Situated in the historic El Terreno district
- Close proximity to Bellver Castle
- Stylishly renovated for modern comfort
- Charming patio for outdoor enjoyment
Worth knowing
- Higher price point may not suit all budgets
- May require stairs to access certain areas
Good fit for: Ideal for buyers seeking a luxurious urban lifestyle in a historic setting.
Lifestyle scores
- Beach
- 80
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 85
- Investment
- 75
- Luxury
- 80
- Value
- 50
About this place
Discover the epitome of modern luxury in this stunning duplex apartment, nestled in the heart of Palma’s historic El Terreno district, just steps away from the iconic Bellver Castle. Step into an ambiance of refined elegance and contemporary comfort as you explore this exquisitely renovated residence. The ground floor welcomes you with a charming patio […]
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
