2 Bed Penthouse for sale
Palma de Mallorca, Mallorca, Balearic Islands, Spain
Full Description
Top floor apartment for sale in Palma (Old Town)
Located in the heart of Palma's Old Town, this residence occupies the fifth floor of a building with lift access. The property benefits from excellent natural light, unobstructed views and a private 25 m² terrace situated on the building's rooftop.
The apartment offers approximately 78 m² of built space, distributed around a spacious living-dining area featuring high ceilings and exposed wooden beams. The ceiling height, combined with the abundant natural light, creates a pleasant sense of space. The kitchen is independent and fully equipped with all necessary appliances. The sleeping quarter comprises two bedrooms and one bathroom. The layout provides a clear separation between the living and sleeping areas.
The property is in very good condition and does not require renovation.
The building underwent a complete refurbishment in 2009. Both its installations and communal areas are in very good condition. According to the information available, the next Technical Building Inspection (ITE) is scheduled for 50 years after the 2009 refurbishment.
One of the property's distinctive features is its private 25 m² rooftop terrace, providing additional outdoor space within Palma's historic centre. There is also the option to purchase a private parking space and a storage room located in the same building, for an additional €80,000.
LOCATION AND PROPERTY VALUE – Palma's Old Town is one of the most established and recognised residential areas in Mallorca's property market. Within this market, properties located on upper floors, with lift access, good natural light and private outdoor spaces, are scarce and highly sought after. The combination of location, layout, condition, private terrace and additional facilities places this property within a residential segment characterised by strong market demand. From a long-term investment perspective, Palma's Old Town offers sustained potential. The limited availability of properties with comparable characteristics, together with the enduring appeal of the historic centre, are relevant factors when assessing its future market performance.
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