Spacious Three-Bedroom Apartment Along El Borne Avenue
€2,795,000€14,116/m²
Palma Old Town, Palma Old Town, Spain
3
bedrooms
4
bathrooms
198 m²
interior
8 m²
plot
Apartment
property type
7 Jun 2026
listed
The Habio take
AI summaryThis exceptional three-bedroom apartment spans 198 square metres, making it one of the most spacious offerings in Palma's prestigious Old Town. Located on the iconic El Borne Avenue, residents enjoy a vibrant neighbourhood rich in culture and history.
- city
- historic
- luxury
Highlights
- Prime location on El Borne Avenue
- Generous 198 m² interior space
- Three bedrooms and four bathrooms
- Historic charm of Palma's Old Town
- Proximity to dining, shopping, and culture
Worth knowing
- Limited outdoor space with only 8 m² plot
- Higher price point than typical apartments
Good fit for: Ideal for discerning buyers looking for a luxurious urban lifestyle.
Lifestyle scores
- Beach
- 50
- Walkable
- 95
- Remote work
- 75
- Family
- 60
- Retirement
- 70
- Airport access
- 90
- Investment
- 85
- Luxury
- 90
- Value
- 70
About this place
Nestled along the iconic El Borne Avenue, this exceptional 198-square-meter residence stands among the most spacious properties available for sale in the Balearic capital.
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
