Prestige Property Group

Palma Property

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Over 20 years experience in the area.

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We offer access to 99.9% of the local property market including off-market options

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Area Guide Contact Us

The ancient city of Palma is the Capital city of the Spanish Mediterranean island of Mallorca. Palma has a vibrant city centre, excellent shopping streets and a fascinating historic area, the Casco Antiguo or ‘old town’ as it is known. It is a popular tourist centre with a lively sea front, and beach with year round appeal for its cultural scene, local festivals, fashionable bars and restaurants, shopping and art galleries.

1. Putting down a Holding Deposit

On finding a property you wish to purchase you will need to negotiate the terms, price and conditions of the sale with the owner. This part of the process is not binding. We would recommend using an independent English speaking legal advisor. Once a purchase price has been agreed, normally a holding or reserve deposit will be required to ensure the property is removed from the market. The sum required will vary between properties and will be based on the purchase price. A time limit for the preagreement to be signed will be arranged and there will also be legal checks to be made.

2. Setting up a Pre-agreement (Contrato privado de compraventa)

The pre-agreement will set out the conditions under which the Buyer and Seller agree to complete the purchase of the property and the price they have agreed upon. Relevant details will generally be included for example the property details, purchase price and the date for completion. A deposit will be required at this point, this will vary, but will generally be 10% of the agreed price. This agreement will include a penal clause if the sale does not go through. If the seller pulls out of the sale your compensation will be double the deposit you have paid, but if you decide not to go through with the sale then your deposit will be lost. Certain checks will need to be made before signing the contract, checks should be made against the title of the property, mortgage status and if the property has any debts held against it. The planning status should also be looked into. These conditions can be varied by the seller and the buyer and other types of agreement can be made.

3. The Contract (Escritura de compraventa)

Before a non-Spanish purchaser can buy a Spanish property they will need to have set up a Spanish bank account and obtained a Spanish tax number (NIE). The completion will take place in the presence of a Notary Public. This is a Spanish public official, by law the deed of sale must be witnessed by a Notary Public. You will also need your own independent, expert legal advisor to act on your behalf. On Completion the buyer must pay the balance, that is the price agreed after the deposit has been deducted, plus any other fees on the completion date. Both buyer and seller must sign the Escritura de compraventa contract, (this is the Spanish equivalent of the title deeds). The title deeds (escritura) will be given to the buyer, this will be done in the presence of a Notary Public, they will certify that the transfer has taken place. The tax office will be sent a copy and the property registry will be informed of the transfer.

IMPORTANT - Disclaimer :
All information provided is believed to be current and provided free of charge. No liability can be accepted for the reliability of the information and statements made as this is obtained from 3rd parties. We always recommend you take legal advice from a fully qualified Lawyer or Notary before buying a property overseas.

132 properties

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Spacious and amazing 5 bedroom apartment, which has been recently renovated with a chic Soho style, ideally situated right in the heart of the buzzing El Terreno neighbourhood. This colourful, el......

1,150,000 EURREF: 247947

Totally and beautifully refurbished 6 bedroom villa, with an impeccably presented living area of 778m2. With a contemporary style and lots of entertainment space, this superb villa has amazing vie......

4,995,000 EURREF: 247905

Absolutely exceptional 5 storey, 5 bedroom luxuriously renovated house with garden, indoor pool and gym, ideally located near all amenities in a prestigious area of Palma. This is an incredible op......

9,200,000 EURREF: 247811

In excellent condition throughout, this superb high quality apartment, with stunning views of the bay of Palma, is ideally situated within a very quiet residential location of La Bonanova and is wi......

450,000 EURREF: 247797

Luxurious recently renovated 7 bedroom villa, ideally situated in a quiet setting just by the bay of Cala Fornells in Paguera. With panoramic views, this spacious and luminous villa is divided ove......

8,900,000 EURREF: 247719

Superb, bright and spacious 2 bedroom apartment, which is ideally situated in a coveted sea front position within an exclusive new development and with stunning views overlooking Palma bay, the mar......

1,200,000 EURREF: 247598

Luxurious 2 bedroom duplex/penthouse apartment located right in the centre of the historic quarter in Palma de Mallorca, close to Las Ramblas and the Paseo Borne. With a bright and welcoming livi......

1,380,000 EURREF: 247554

In excellent condition throughout, this superb newly renovated loft apartment is offered for sale in the Santa Catalina neighbourhood of the vibrant capital city of Palma. Designed to be energy e......

495,000 EURREF: 247322

Charming and cosy 3 bedroom house located in Son Toni, in a great setting on a quiet street and within easy reach of shops, golf and the beach in just 10-15 minutes. A highlight of the villa is t......

825,000 EURREF: 247321

Probably one of the most impressive properties situated within walking distance of Pollensa, this superb villa is set on an elevated plot of 9,234m2 with a swimming pool and breathtaking views of b......

6,500,000 EURREF: 247123

Spacious 7 bedroom Mallorcan manor house, with its origins dating from 1870, which is full of character and has magnificent views of the mountains. Located close to schools and Son Vida Golf cours......

2,150,000 EURREF: 247056

Modern and elegant 3 bedroom 4th floor apartment situated right in the heart of Palma's Old Town. Beautifully presented and with a generous built area of 116m2, with a fusion of a modern design, ......

975,000 EURREF: 246539

Bright, spacious and contemporary-style 2 bedroom apartment, which is ideally located in the centre of Palma, with lovely city views and perfectly located on a pleasant street, just metres from the......

450,000 EURREF: 246202

Fantastic 2 bedroom apartment with a balcony and lovely sea views, excellent facilities, bright interior with designer finishes and just a short walk from the beach and Palmas vibrant city centre w......

650,000 EURREF: 246083

Exceptional 3 bedroom fully furnished renovated apartment, ideally located near all amenities in the heart of Palma. This outstanding turnkey property is situated on the 3rd floor of a well mainta......

595,000 EURREF: 246035

Spacious 8 bedroom Villa for sale with sea view in San Agustin, Mallorca

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1. Putting down a Holding Deposit

2. Setting up a Pre-agreement (Contrato privado de compraventa)

3. The Contract (Escritura de compraventa)

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