Investment Opportunity: Three-Building Project in Central Palma
€1,790,000€2,964/m²
Palma de Mallorca, Baleares, Spain
10
bedrooms
7
bathrooms
604 m²
interior
132 m²
plot
Apartment
property type
4 Aug 2026
listed
The Habio take
AI summaryThis expansive property consists of three adjacent buildings in the historic centre of Palma de Mallorca, offering a total of 10 bedrooms and 7 bathrooms. The prime location places it within walking distance of key landmarks like Plaza Mayor and Plaza España, making it an ideal investment in this vibrant city.
- investment
- historic
- city
Highlights
- Historic centre location
- Plans for luxury apartments
- Close to key landmarks
- Elevator installation included
- Investment potential in a popular destination
Good fit for: Ideal for investors looking to develop high-end residential properties in a prime location.
Lifestyle scores
- Beach
- 50
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 80
- Investment
- 85
- Luxury
- 75
- Value
- 65
About this place
This unique investment opportunity encompasses three adjacent buildings situated in the heart of Palma de Mallorca's historic centre. With a total internal area of 604 m² across the properties, the project includes extensive plans for the renovation and conversion of the buildings into six luxury apartments, complete with elevators. The preliminary and final design plans detail the current condition of the buildings and the envisioned layouts for future use.
Located on a quiet street, these buildings are just moments away from iconic sites such as Plaza Mayor and Plaza del Banc de l'Oli, and are less than a five-minute walk from Plaza España. This arrangement ensures easy access to the rich cultural experiences and amenities Palma has to offer. As the capital of Mallorca, Palma is renowned for its vibrant lifestyle and serves as both a popular summer and winter destination for visitors from around the globe.
Where you’ll be
Palma de Mallorca, Baleares, Spain
Location is approximate — exact address is confirmed by the agent.
Open in Google MapsBuying 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.
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
