Renovated Apartment with Roof Terrace in Palma Old Town
€1,495,000
Spain
Apartment
property type
3 weeks ago
listed
The Habio take
AI summaryThis stunning apartment, nestled in Palma's historic Old Town, offers a perfect blend of architectural charm and modern luxury, featuring a unique roof terrace. Directly in the heart of the city, it promises vibrant urban living just steps away from cultural attractions and amenities.
- historic
- city
- luxury
- walkable
Highlights
- Timeless character dating back to 1884
- Meticulously renovated to high standards
- Three spacious bedrooms
- Two sophisticated bathrooms
- Unique roof terrace for outdoor living
Worth knowing
- Limited outdoor space aside from terrace
- Potentially higher noise levels due to urban location
- Higher cost relative to some surrounding areas
Good fit for: Ideal for those seeking a luxurious urban lifestyle in a historic setting.
Lifestyle scores
- Beach
- 50
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 85
- Investment
- 80
- Luxury
- 90
- Value
- 55
About this place
Nestled in the heart of Palma’s enchanting Old Town, this exceptional apartment blends timeless architectural character with contemporary luxury. Originally built in 1884 and meticulously renovated to the highest standards, the residence is presented in pristine first occupancy condition. Elegant interiors unfold across six beautifully designed rooms, including three spacious bedrooms and two sophisticated bathrooms. […]
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
