Three-Bedroom Apartment in Palma's Exclusive Jaime III Area
€1,295,000€7,486/m²
Palma de Mallorca, Palma de Mallorca, Spain
3
bedrooms
2
bathrooms
173 m²
interior
Apartment
property type
7 Jun 2026
listed
The Habio take
AI summaryThis charming three-bedroom apartment offers elegance and space in the heart of Palma de Mallorca. Located near the prestigious Jaime III Avenue, you'll enjoy a vibrant mix of shopping, dining, and leisure activities in one of the city's most sought-after areas.
- city
- walkable
- luxury
Highlights
- 173 m² of internal space
- Three spacious bedrooms
- Two modern bathrooms
- Prime location near commercial attractions
- Close proximity to Palma's cultural hotspots
Worth knowing
- No private outdoor space mentioned
- City centre noise may be a concern
Good fit for: Ideal for city dwellers seeking a stylish, urban lifestyle.
Lifestyle scores
- Beach
- 70
- Walkable
- 90
- Remote work
- 70
- Family
- 65
- Retirement
- 60
- Airport access
- 80
- Investment
- 85
- Luxury
- 75
- Value
- 50
About this place
Charming flat in the area of Jaime III in Palma de Mallorca, one of the most exclusive areas of the city. Located in the heart of the Balearic capital, known for its elegance and enviable commercial and leisure offer.
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
