Stylish Renovated Studio Penthouse with Terrace in Palma de Mallorca
€420,000
Palma de Mallorca, Mallorca, Spain
Studio
property type
3 weeks ago
listed
The Habio take
AI summaryThis stunning studio penthouse features a spacious terrace, perfectly situated between the bustling Paseo Maritimo and the chic El Terreno. Enjoy the vibrant lifestyle of Palma de Mallorca, with easy access to local attractions and amenities.
- city
- walkable
- luxury
Highlights
- Renovated in 2019
- Open-plan living
- Located in trendy El Terreno
- Terrace space
- Close to Paseo Maritimo
Worth knowing
- Studio size may not suit larger families
- Limited storage options in a studio layout
Good fit for: This property is ideal for singles or couples looking for a vibrant urban lifestyle.
Lifestyle scores
- Beach
- 75
- Walkable
- 85
- Remote work
- 65
- Family
- 40
- Retirement
- 60
- Airport access
- 80
- Investment
- 70
- Luxury
- 70
- Value
- 50
About this place
Welcome to your new dream home in Palma de Mallorca! Nestled between the vibrant Paseo Maritimo and the trendy El Terreno neighbourhood, this unique penthouse is a perfect blend of style and comfort.
This designer penthouse was completely renovated in 2019 and transformed into a radiant jewel, boasting approximately 64 square metres of open-plan living space.
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
