Charming One-Bedroom Flat in Historic Palma Old Town
€500,000
Palma, Balearic Islands, Spain
Apartment
property type
3 weeks ago
listed
The Habio take
AI summaryThis delightful one-bedroom flat boasts an inviting atmosphere and open views, nestled in the heart of Palma's historic old town. Perfectly situated, it showcases a blend of traditional charm and modern comfort, making it an appealing option for urban living.
- historic
- city
- walkable
Highlights
- Heart of Palma's historic old town
- Charming traditional building
- Open-plan living layout
- Large windows with open views
- Ideal for urban lifestyle
Worth knowing
- No lift mentioned
Good fit for: Best suited for those seeking a charming urban retreat in a vibrant historic area.
Lifestyle scores
- Beach
- 75
- Walkable
- 85
- Remote work
- 70
- Family
- 50
- Retirement
- 60
- Airport access
- 80
- Investment
- 75
- Luxury
- 60
- Value
- 70
About this place
Welcome to this charming one-bedroom flat located in the heart of Palma’s historic old town. Situated on the first floor of a traditional building, this property offers an ideal blend of historical charm and modern comfort.
As you step into the flat, you are greeted by a cozy and inviting atmosphere. The open-plan layout seamlessly integrates living and dining spaces, creating an ideal environment for relaxation and entertaining. Large windows provide natural light and enhance the lovely views, while maintaining the building's enchanting character.
Whether you seek a peaceful retreat in a culturally rich setting or a vibrant urban lifestyle, this flat is a perfect choice for anyone wishing to enjoy the beauty and convenience of Palma's old town.
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
