Palma de Mallorca, the island’s capital, is the cultural and infrastructural centre of the Balearic Islands and presents fabulous options for purchasing a flat, an apartment or a penthouse with your real estate agent Engel & Völkers Mallorca.
In Palma, our clients buy their properties for personal use, to spend as much time as possible on the island, and to enjoy everything the Mediterranean has to offer. They also consider their purchase to be a secure investment for the future.
Terence Panton, Managing Partner of Engel & Völkers Palma Centre & East
21 years on Mallorca and 21 years with Engel & Völkers
In the capital of the Balearics, great emphasis is placed on a high quality of life and making sustainable investments in consistently improving infrastructure. With an investment of more than 100 million euros in the zone Paseo Marítimo and Club de Mar yacht club, Palma is one of the most attractive cities in the entire Mediterranean.
Hans Lenz, Managing Director of Engel & Völkers Palma Southwest
Born on Mallorca and 10 years with Engel & Völkers
1. An overview of Palma as a property location
Flats and apartments in Palma: Mediterranean atmosphere meets cosmopolitan elegance
Purchasing a property in Palma means experiencing the fascination of Mallorca in all its intensity: the combination of a luxurious lifestyle, the wonderful Mediterranean climate and an array of practical advantages makes the island’s capital a fantastic property location, not to forget its multifaceted historic roots. A property such as a flat, an apartment or a penthouse in Palma de Mallorca is the ideal starting point for discovering something new about this Mediterranean gem every day. Exclusive shopping opportunities, international cuisine, cultural sights and exquisite entertainment are just some of the highlights awaiting you upon your property purchase. The local selection of exclusive properties in Palma de Mallorca speaks for itself. Whether you’re after a modern new-build project, a centrally located penthouse flat or even an authentic townhouse, there are many individual options to choose from. Let the magic of Palma de Mallorca captivate you and find out more about the attraction of this unique metropole from your real estate agent Engel & Völkers!
Apartments in Palma de Mallorca
2. The highlights of purchasing a property in Palma
Exclusive, refreshing & culinary excellence: The highlights of Palma for your property purchase
The combination of numerous historic buildings and a modern, cosmopolitan spirit make Palma de Mallorca truly unique. Whilst walking through the vibrant and lively streets of the city, you can almost feel its history as you wonder between monumental buildings from bygone days, such as "La Almudaina" royal palace, the Bellver Castle and the city’s most prominent landmark, the La Seu Cathedral. Should you decide to purchase a flat, an apartment or a penthouse in Palma de Mallorca, you will have some of Spain’s most popular shopping streets right on your doorstep. One of these is the Paseo del Borne, which stands out due to a broad selection of international designer shops, flagship stores and luxury boutiques.
You can find a range of Europe’s most exclusive fashion, watch and jewellery brands such as Louis Vuitton, Rolex, Hugo Boss and Carolina Herrera. Excellent shopping opportunities in the upscale segment also await you in Avenida Jaime III, whereas in Calle Quint and Calle San Miguel you can find a diverse range of products, many of which are Majorcan. The latter of the two leads to the Plaza Cort, which is home to Palma’s time-honoured town hall and the oldest olive tree on the island, “Olivera de Cort”, which is around 600 years old. The two shopping centres in the heart of the city, the “small” and the “large” El Corte Ingles, complete the extensive offer of quality shopping opportunities in Palma.
However, properties in Palma benefit from more than the proximity of excellent shopping possibilities. There is also an impressive range of culinary and spa offerings. You will find outstanding restaurants close to your new flat, apartment or penthouse, as they are spread across the whole city. Our real estate agents are looking forward to recommending some of these, such as Forn de Sant Joan in Carrer de Sant Joan as well as Ombu in the Paseo del Borne. Nuru in the Santa Catalina neighbourhood und proSecCo in Portixol are also more than worth a visit!
The selection of hotels close to your new property in Palma is comprised of the crème de la crème of the branch. You can look forward to a collection of exquisite 5 star luxury and boutique hotels, such as Hotel Sant Francesc, which was named as one of the world’s best hotels in 2019 by Condé Nast Traveler, as well as Can Bordoy Grand House & Garden, which has also been awarded with a variety of international awards. Massages, spa programmes and maximum relaxation await you! If you would like to find out more about the many advantages of living in Palma de Mallorca, please do not hesitate and get in touch with our real estate agents!
3. Purchase a flat in Palma and benefit from strong infrastructure
Strong infrastructure is one of the many advantages of purchasing a property in Palma de Mallorca
Besides the sights and advantages described above, which make living in Palma so fascinating and comfortable at the same time, Palma is has several infrastructural advantages supporting your property purchase. Due to the availability of a sound road network, every part of Mallorca is just a short drive away. This is particularly the case for the International Airport of Palma de Mallorca, which is located just to the east of the city and makes it possible to travel to many destinations worldwide. Thanks to a wide range of international schools such as Palma College, Bellver Int. College and Green Valley School, Palma isn’t just suitable for seasonal residency. It also offers the best possible conditions for families with children for year-round living. Do you own a yacht and are you looking for a property location with excellent port infrastructure? The largest marina in Mallorca is situated in Palma and with 2000 moorings, it is also suitable for your motorboat or sailing boat. This is the reason why flats and apartments located close to the marina are particularly popular, especially amongst water sports enthusiasts.
Properties Palma Paseo Marítimo
If you enjoy doing other kinds of sports, there are plenty of sports facilities and clubs in Palma and the surrounding area. Palma Tennis & Sport Club in Santa Catalina, Pins Padel Club in the south-west of Palma and an array of gyms are just some of the options available to you. The Paseo Maritimo is particularly attractive for a leisurely walk or a jog along the bay of Palma. It is a delightful waterside promenade with fantastic flats and apartments in excellent condition and is, without a doubt, one of the jewels of Palma de Mallorca. Enjoy the picturesque sunset evening upon evening from the terrace of your new property and find your dream flat for sale in Palma with Engel & Völkers Mallorca!
4. Market information and prices for your property purchase in Palma
Demand, locational information and prices: a market overview of Palma de Mallorca
In Palma de Mallorca, the property market primarily consists of flats and apartments, although sometimes townhouses and villas are also up for sale. Independent of actual location and price level, demand for properties in Palma can be regarded as high. In 2019, for the third year running, the transaction volume was significantly higher than a billion Euros. Properties with a view of the Bay of Palma, flats with a balcony or a terrace as well as modern features such as a lift are particularly in demand. A car parking space or a garage is also a strong reason for buying in the somewhat narrow streets of Palma.
A look at the current Engel & Völkers Market Report Mallorca 2020/2021 reveals the following: The best locations in Palma de Mallorca are the exclusive quarter Génova in the west of Palma as well as the old town. Buying offers for flats, apartments and penthouses reach around 700,000 – 800,000 Euros here, in Génova around 1,000,000 Euros. Properties in Portixol, Es Molinar, Ciudad Jardín, El Terreno, the Paseo Maritimo, Santa Catalina and Sant Agustí are a little less pricey with prices for flats ranging between 600,000 and 700,000. On the outskirts and along the Playa de Palma, some properties are on offer for less than 400,000 Euros. The experience of our real estate agents shows that obtaining bank financing for the purchase of a flat, apartment or penthouse in Palma is relatively unproblematic. For further details concerning your purchasing options, we are happy to advise you in person or by telephone: +34-971-21 41 40.
5. Purchase your apartment in Palma with Engel & Völkers Mallorca
Engel & Völkers in Palma de Mallorca: your real estate agent on this island since 1990
Here in Mallorca, where Engel & Völkers opened its first office outside of Germany 30 years ago, our real estate agents are still here today to advise you with a professional attitude and maximum engagement. In the course of the past few decades, our team has gained valuable experience and our agents know the property market in Palma de Mallorca like the backs of their hands. In the meantime, your real estate agent Engel & Völkers Mallorca in Palma can look back on a high degree of successful property marketing and numerous satisfied customers. This means that we are sure to soon find the ideal flat or suitable apartment in Palma according to your purchasing criteria. Here you can find out about all properties for sale in Palma de Mallorca. You can continuously count on our high-quality service standards and the discretion of our multi-lingual team during the whole purchasing process. In order to make a personal appointment with our real estate agents and hold the keys to your dream home in your hands very soon, please complete our contact form or arrange a live video viewing – we are looking forward to having you!
6. These are your location options in Palma when purchasing a property
A city full of possibilities for your property purchase: the different locations in Palma
If you wish to buy a flat or apartment in Palma de Mallorca, you can choose from six different location options, each of which has its own characteristics and unique selling points. The old town surrounding the La Seu Cathedral and the city centre represent perhaps the most dynamic part of Palma. In between the traditional Majorcan architecture, diverse cultural facilities such as the Teatre Principal or the Museo de Mallorca are situated just a few minutes’ walk from your new property. The port is also within quick reach. Flats, lofts, duplex apartments and sometimes even townhouses or palazzi are typical property offerings in this part of town. New-build properties are particularly sought-after.
Portixol and El Molinar in the east of Palma have also become sought-after property locations for flats, apartments and penthouses with balconies and rooftop terraces. The former fishing village has developed into a popular boulevard with fancy bars and restaurants and offers a wide range of offerings for prospective international buyers. Further east, you will find Playa de Palma and El Arenal: Palma’s perhaps most well-known promenade has been upgraded in the past few years by the establishment of several 5 star premium hotels and offers interesting options for purchasing flats and apartments, particularly due to its proximity to the airport.
Properties Playa de Palma & El Arenal
On the other side of town, in the south-west of Palma, lies the trendy neighbourhood of Santa Catalina with the bordering Paseo Marítimo, which has turned into a hip location. Buyers from Scandinavia and other parts of Europe appreciate the attractive lofts and penthouses, the trendy bars and restaurants and the relaxed atmosphere of this part of town.
Bonanova is a property location, which is especially notable due to its proximity to the Castell Bellver and is surrounded by green nature within easy reach. Besides attractive apartments, here you have the opportunity to buy exclusive houses in a popular atmosphere. Our real estate agents have noticed in increase in demand for properties in nearby El Terreno, particularly amongst buyers from Sweden. In Gènova an exquisite selection of modern and individual villas and townhouses awaits you. These properties impress with their location outside of the centre and their calm atmosphere, whilst remaining within easy reach. This part of town is an excellent option for families with children in particular, due to its proximity to international schools. When purchasing an apartment in Sant Agustín, you benefit from being close to the sea. If you want to learn how a modern sailing yacht is steered, you can find out at the sailing school Calanova, for example.
Further north you will reach Son Vida, the premium residential area of Palma de Mallorca. You will find golf courses, first-class luxury hotels and the highest security standards as well as the most luxurious detached houses and villas in town.
Properties in Son Vida
A city like Palma, which combines tradition, cosmopolitanism and aspiration, is unique in the whole Mediterranean region. Purchase a flat, an apartment or a penthouse with the real estate agents from Engel & Völkers Mallorca and let the charm and exclusivity of the island’s capital cast their spell on you!
7. Search for a property in Palma de Mallorca
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