Refurbished Apartment with Classic Charm in Palma's Old Town
€1,500,000
Spain
Apartment
property type
3 weeks ago
listed
The Habio take
AI summaryThis exquisite apartment, fully refurbished in 2016, features a blend of modern style and classic Majorcan architecture, with high ceilings and charming French balconies. Located in the heart of Palma's historic old town, it offers an inviting living experience steeped in cultural richness.
- historic
- city
- investment
- luxury
Highlights
- 196m² of living space
- High ceilings with exposed wooden beams
- Tastefully refurbished with modern finishes
- French balconies for extra light and charm
- Centrally located in Palma's old town
Worth knowing
- High price point may not suit all budgets
- Limited outdoor space indicated
Good fit for: Ideal for those seeking a stylish home in a vibrant cultural hub.
Lifestyle scores
- Beach
- 75
- Walkable
- 90
- Remote work
- 70
- Family
- 60
- Retirement
- 65
- Airport access
- 80
- Investment
- 85
- Luxury
- 90
- Value
- 50
About this place
We are pleased to present this amazing flat in the old town of Palma. This unique property was completely refurbished in 2016 with a modern and tasteful style combined with classic Majorcan architecture, its high ceilings with exposed wooden beams and French balconies give this modern property a special touch. Its 196m2 are distributed over […]
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
