Historic House for Renovation in Sought-After Son Espanyolet
€890,000
Palma, Balearic Islands, Spain
Land
property type
3 weeks ago
listed
The Habio take
AI summaryThis charming historic house in Son Espanyolet presents a unique renovation opportunity. Located just a short walk from Palma’s vibrant Santa Catalina area, it boasts original architectural features and a sizeable plot of approximately 382 m².
- historic
- renovation
- city
- walkable
Highlights
- Historic property with original features
- Approximately 382 m² plot size
- Prime location in Son Espanyolet
- Close to Santa Catalina's amenities
- Great potential for renovation
Worth knowing
- Requires full renovation
- No guaranteed parking mentioned
Good fit for: Ideal for buyers looking to create a customised home or investment in a prime location.
Lifestyle scores
- Beach
- 50
- Walkable
- 85
- Remote work
- 60
- Family
- 55
- Retirement
- 70
- Airport access
- 80
- Investment
- 75
- Luxury
- 65
- Value
- 70
About this place
This charming historic house in Son Espanyolet, built in 1935, offers great potential for those looking to undertake a renovation project. The property retains its original architectural features, adding character and charm to the setting.
Sitting on a plot of around 382 m², this is a rare opportunity for buyers who wish to fully renovate and preserve a piece of local history. Located in the sought-after neighbourhood of Son Espanyolet, the property is conveniently close to Santa Catalina, known for its vibrant gastronomy and leisure options, making it an ideal location for enjoying the best of Palma.
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
