Newly Built Ground Floor Apartment with Terraces in Son Armadams
€1,690,000
Palma, Balearic Islands, Spain
Apartment
property type
3 weeks ago
listed
The Habio take
AI summaryThis newly built ground floor apartment boasts spacious terraces in the appealing area of Son Armadams, close to Bellver Castle in Palma. Its modern design and prime location make it a desirable choice for urban living.
- city
- new build
Highlights
- New build completed in 2023
- Large living room
- South-facing terraces
- Close to Bellver Castle
- Two bedrooms
- Modern design
Good fit for: Ideal for those seeking a modern urban lifestyle near cultural landmarks.
Lifestyle scores
- Beach
- 55
- Walkable
- 75
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 80
- Investment
- 75
- Luxury
- 70
- Value
- 65
About this place
This newly built ground floor apartment in Son Armadams was completed in 2023 and offers a contemporary living experience. The apartment features a generous living room, two bedrooms, and one bathroom, providing ample space for comfortable living.
In addition to the well-planned interior, the property includes 34 m² of terraces that enhance outdoor living options. The layout flows seamlessly to exterior porches and terraces, which are south-facing and include both covered and uncovered areas, perfect for enjoying the Mediterranean climate.
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
