Exceptional Penthouse with Three Terraces in Central Palma
€890,000
Palma, Balearic Islands, Spain
Penthouse
property type
3 weeks ago
listed
The Habio take
AI summaryThis remarkable penthouse offers refined city living with unmatched privacy in the heart of Palma. Located just moments from the lively Mercado del Olivar and an array of cafés and nightlife, it provides an ideal urban retreat.
- city
- luxury
- walkable
Highlights
- Three private terraces
- Loft-style living area
- Prime location near Mercado del Olivar
- Vibrant nightlife and cafés nearby
- Luminous urban retreat
Worth knowing
- Limited outdoor space compared to larger properties
- Urban setting may not suit those seeking quiet
Good fit for: Ideal for buyers seeking a stylish urban lifestyle in a vibrant area.
Lifestyle scores
- Beach
- 50
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 80
- Investment
- 75
- Luxury
- 85
- Value
- 70
About this place
This exceptional penthouse in the very heart of Palma presents a rare opportunity to enjoy refined city living combined with absolute privacy. Just moments from the Mercado del Olivar, charming cafés and vibrant nightlife, the approximately 114 sqm residence unfolds as a luminous urban retreat.
The main level features an elegant loft-style living area, perfectly designed for both relaxation and entertaining. With three terraces, this property invites you to enjoy outdoor living and breathtaking views over the city. The sophisticated design and prime location make this penthouse a unique offering in a vibrant and culturally rich area.
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
