Renovation Project or Building Plot in Son Espanyolet
€890,000
Spain
Land
property type
3 weeks ago
listed
The Habio take
AI summaryThis historic 1935 house in Son Espanyolet presents a unique renovation opportunity on a generous 382 m² plot. Located just a short walk from Santa Catalina, residents can enjoy easy access to Palma’s lively gastronomy and leisure scene.
- historic
- renovation
- city
Highlights
- Charming historic architecture
- Sought-after neighbourhood
- Close to Santa Catalina
- Large plot size of 382 m²
- Potential for full renovation or new build
Worth knowing
- May require significant investment for renovation
- Not move-in ready
- Development restrictions may apply
Good fit for: Ideal for buyers looking to create a personalised living space in a vibrant area.
Lifestyle scores
- Beach
- 80
- Walkable
- 85
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 70
- Investment
- 75
- Luxury
- 60
- Value
- 50
About this place
Charming historic house with great potential located in the sought-after neighborhood of Son Espanyolet, just a short walk from Santa Catalina, Palma’s vibrant hub for gastronomy and leisure. Built in 1935, the property retains original architectural features and sits on a plot of approximately 382, offering a rare opportunity either to fully renovate and preserve […]
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
