Property GuidePalma de Mallorca

Property for Sale in Palma de Mallorca

Palma combines a historic centre, residential neighbourhoods by the sea and hillside areas just outside the city. It is the part of the island with the most services all year round: the airport, hospitals, schools and shops are all in or near the city. The neighbourhood you choose decides whether you are looking at a restored city apartment, a seafront flat or a villa.

Old Town and Santa Catalina

The Old Town is the historic centre around the cathedral, where the market is made up of apartments in restored buildings and city houses. Buildings in the historic centre can be subject to heritage protection rules, so renovation plans should be checked with a lawyer or architect. Santa Catalina is the neighbouring district, a former fishermen's quarter now known for its market, restaurants and cafés. See properties in the Old Town and Santa Catalina.

Portixol, Son Vida and Génova

Portixol is a seafront neighbourhood on the east side of the bay, with a small harbour and apartments facing the sea. Son Vida is an enclosed residential area in the hills north-west of the city, centred on its golf course, where villas dominate. Génova is a residential area on the slopes above the city, with villas and houses. Browse Génova and all properties in Palma.

Property types in Palma

• Apartments and penthouses, the main product in the city centre and along the coast.
• City houses and townhouses, mainly in the Old Town, see townhouses for sale in Mallorca.
• Villas, mainly in Son Vida and the hills, see villas for sale.

Before you buy

• For apartments, check the building's community fees and the state of the building's common areas with your lawyer.
• Foreign buyers need an NIE (Spanish foreigner identification number) to complete the purchase.
• If you plan to rent the property to tourists, check the licence situation first, as municipalities can add their own rules to the regional ones.

Tell us what you are looking for and we will send you a selection: contact us.

Frequently asked questions about buying in Palma

Which neighbourhoods are covered in this Palma guide?

The Old Town, Santa Catalina, Portixol, Son Vida and Génova, each with its own guide, plus properties across the rest of the city.

What property types are most common in Palma?

Apartments and penthouses make up most of the market, with city houses in the Old Town and villas in the hillside areas such as Son Vida.

How much tax do I pay when buying a resale property in the Balearic Islands?

Resale properties pay Transfer Tax (ITP), which in the Balearic Islands is 8% up to €400,000, 9% up to €600,000, 10% up to €1,000,000, 12% up to €2,000,000 and 13% above that. Source: Guía Fiscal.

And for a new-build property?

New builds pay 10% VAT (IVA) plus stamp duty (AJD) instead of ITP. Ask your lawyer to confirm the exact amounts for your purchase.

Can I rent my property to tourists?

Not automatically. Under Decree-Law 4/2025, passed in April 2025, new tourist-rental places in the Balearic Islands are only allowed if the same number is deactivated, and they are banned in multi-family buildings. Check the licence situation before buying. Source: Govern de les Illes Balears. See also our properties with rental licence.