Discover Your Dream Home in Palma: Five Renovation-Ready Flats Under €500K
- sofielindahljessen
- Nov 11
- 3 min read
Have you ever imagined owning a place in Palma where you can work remotely or simply relax under the Mediterranean sun? Picture yourself on a private terrace or rooftop, watching the city lights sparkle as a warm breeze drifts by. Just a short walk away, you’ll find charming cafés, local restaurants, unique boutiques, and the deep blue sea waiting for you.
For those looking to invest wisely or find a personal retreat, there are exciting opportunities available. Here are five carefully selected flats in Palma, all priced under €500,000, each ready for renovation and transformation into your ideal home.
Five Unique Flats with Outdoor Spaces
Each of these flats offers something special: a private terrace or rooftop space where you can enjoy fresh air and stunning views. Outdoor living is a key part of life in Palma, and these properties provide the perfect balance between city convenience and open-air tranquility.
Flat 1 – Near the Station | €440,000 | 56 m² + 24 m² rooftop
Located near Palma’s main station, this modern two-bedroom apartment features a private rooftop terrace with open city views. The flat includes parking, is on the 4th floor with lift, and sits in a newer building that’s easy to update.
Flat 2 – El Terreno | €355,000 | 66 m² + terrace
A cozy two-bedroom flat in El Terreno, offering a sunny terrace and access to a shared rooftop. Bright and simple, it’s an easy renovation project with great potential and lovely balcony views over the neighborhood.
Flat 3 – Paseo Marítimo | €495,000 | 86 m² + 15 m² balcony
Situated on Paseo Marítimo, this spacious one-bedroom flat includes a 15 m² balcony with sea views towards the marina and Bellver Castle. A bright, light-filled apartment with lift access – a straightforward project in a premium location.
Flat 4 – Foners | €470,000 | 117 m² + terrace
In Foners, this three-bedroom flat offers a large terrace and private rooftop area with sea views. On the 6th floor with lift and parking included, it provides generous space and strong potential for transformation after renovation. RESERVED
Flat 5 – Pere Garau | €495,000 | 145 m² + two terraces
Located in Pere Garau, this expansive four-bedroom apartment features two large terraces on either side of the flat, offering both mountain and city views. A unique opportunity with abundant outdoor space and urban charm in a central setting.
All these flats need renovation, but the work is manageable and offers a chance to customize your home exactly how you want it. Download the full description here
Renovation Potential and Local Expertise
At La Vall Project we can help you with the renovation. We provide a plan, a budget, a timeframe and take care of the project from A-Z for you
We treasure the unique features of Palma’s architecture and can help preserve its charm while upgrading the flats to modern standards.
A Smart Investment in Palma’s Growing Market
Palma’s property market has shown steady growth, with prices rising about 10% annually in recent years. Buying a flat under €500,000 that needs renovation offers a chance to enter the market at a reasonable price and increase the property’s value through improvements.
The combination of city location and outdoor space makes these flats attractive to buyers and renters alike.
Palma’s popularity as a destination for remote workers and tourists supports strong rental demand.
Renovated flats in desirable neighborhoods tend to appreciate faster and provide good returns.
Choosing one of these flats means investing in a lifestyle that combines Mediterranean light, fresh air, and urban convenience. The value of such qualities remains strong even when markets fluctuate.
Your Next Step to a Palma Home
Contact us with your dream and wishes and we will help find the right project for you
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