Modern Apartment with Terrace in Son Armadams, Palma
€1,100,500
Palma, Balearic Islands, Spain
Apartment
property type
3 weeks ago
listed
The Habio take
AI summaryThis contemporary second floor apartment in Son Armadams features a private terrace and is located close to Bellver Castle and Palma's bustling centre. Ideal for those seeking urban living with a touch of tranquility.
- city
- new build
- quiet
Highlights
- Modern design
- Private terrace
- Close to Bellver Castle
- Proximity to Palma city centre
- Two bedrooms and two bathrooms
- Recently completed in 2023
Good fit for: Perfect for professionals or couples seeking a stylish city living experience.
Lifestyle scores
- Beach
- 60
- Walkable
- 85
- Remote work
- 80
- Family
- 60
- Retirement
- 70
- Airport access
- 70
- Investment
- 75
- Luxury
- 65
- Value
- 55
About this place
This second floor apartment is situated in the desirable residential area of Son Armadams, offering a prime location just moments from the historic Bellver Castle and the vibrant centre of Palma.
Completed in 2023, the property spans 89.1 square meters of well-designed living space, comprising a bright and spacious living and dining area, two comfortable bedrooms, and two elegant bathrooms. Additionally, residents can enjoy a private terrace measuring 12.6 square meters, ideal for outdoor relaxation or entertaining guests.
What this place offers
- terrace
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
