Palma Old Town Apartments Under €2 Million: Three Homes to Compare
Palma buying shortlist · Listings checked 6 November 2026
Looking for a Palma Old Town apartment below €2 million? These three Balearic Properties listings offer distinct starting points: a one-bedroom city base, a two-bedroom duplex and a three-bedroom residence in Palau Peña. The selection focuses on bedroom needs, layout and outdoor space rather than claiming to rank the whole market.
Availability and budget: all three appeared publicly advertised for sale, with a displayed price and no sold or reserved label on the pages checked on 6 November 2026. This is visible website status, not confirmation from the agent. Reconfirm availability and price before travelling. Asking prices exclude purchase taxes, fees and any additional work.
The shortlist at a glance
| Reference | Asking price | Bedrooms / bathrooms | Advertised built area | Reason to view |
|---|---|---|---|---|
| SWOPAL10722b | €744,000 | 1 / 2 | 82 m² | One-bedroom base with lift |
| SWOPAL10622 | €1,200,000 | 2 / 2 | 110 m² | Character duplex; assess lower-level bedrooms |
| SWOPAL10796TPL | €1,950,000 | 3 / 2 plus guest WC | 160 m² | Three bedrooms and a private terrace |
Figures are from the individual agent listings. Built area is not necessarily usable interior area, and these examples do not establish an average price for Palma Old Town.
1. A one-bedroom base at €744,000
View SWOPAL10722b with Balearic Properties. This second-floor apartment is advertised with one bedroom, two bathrooms, lift access and ducted heating and cooling. The listing says it is sold unfurnished.
Who should view it: a buyer prioritising a city base over guest accommodation. Our main question is how the living space works when somebody stays over or one owner needs a separate work area. Ask for a measured floor plan and an inventory before budgeting for furnishings.
Check carefully: the description uses both “French balcony” and broader outdoor-space language. Do not assume there is a dining terrace; confirm the balcony’s dimensions and usable space during the viewing.
2. A character duplex at €1.2 million
View SWOPAL10622 with Balearic Properties. The advertised layout places the living, dining and kitchen space on the ground floor, with two bedrooms reached by descending a staircase. Wooden beams and an open living area provide a different proposition from a conventional single-floor flat.
Who should view it: buyers who value separation between living and sleeping spaces and are comfortable with internal stairs. Inspect the lower rooms for natural light, ventilation and moisture, and ask an adviser to verify their approved residential use.
Check carefully: nearby parking is described as an optional arrangement, not an included private space. Do not read the portal’s “plot” field as evidence of a private garden; ask what land or communal rights, if any, are actually included.
3. A three-bedroom Palau Peña residence at €1.95 million
View SWOPAL10796TPL with Balearic Properties. The agent describes a second-floor apartment renovated in 2025/26, with three bedrooms, two bathrooms, a separate guest toilet and a private 20 m² terrace overlooking the courtyard. Direct lift access and a shared fitness centre are also listed.
Who should view it: buyers needing a third bedroom and more flexibility for longer stays. Ask whether the extra room would work better for guests or as a permanent office; compare the actual furniture layout rather than bedroom counts alone.
Check carefully: request the renovation documentation, terrace rights and community budget. The courtyard shown is shared, so it should not be confused with private outdoor space belonging to the apartment.
How to turn three viewings into a decision
Score each home against the same essentials: bedroom usability, access, daylight, outdoor space and total ownership cost. Revisit the strongest candidate at another time of day. Keep money aside for acquisition costs and obtain a property-specific estimate before increasing an offer.
Have your lawyer review title, approved layout and any relevant renovation permissions. For community debts, Article 9 of the Horizontal Property Law provides for a certificate at transfer unless the buyer expressly waives it. Request that document alongside accounts and planned works; a polished interior does not reveal the building’s financial position.
Ask Balearic Properties to arrange a Palma Old Town shortlist using these references and your requirements. For the legal review, find property lawyers in Palma and read our Mallorca apartment buying guide.
Editorial selection, not a valuation or an endorsement of legal condition. Property details and photographs are attributed to Balearic Properties, the marketing agency. No rental permission, return or future price growth is assumed. General information, not personalised legal advice.
Sophie Gutenberg is a legal content specialist focused on Spanish property law, real estate transactions, conveyancing, due diligence and tax issues affecting international property buyers in Spain. She works alongside qualified Spanish property lawyers .
