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Exceptional urban palace with pool, guest house and vacation rental license in Palma's residential area of Son Armadams
Palma, Mallorca, Spain
REF: 872920
€3,900,000
Description
Exceptional urban palace with pool, guest house and vacation rental license in Palma's residential area of Son Armadams. Built on a plot of 1,560 m in 1967, the house with elevator offers on a 3-storey living area of 610 m a living and dining room, 2 kitchens, 9 bedrooms, 6 bathrooms-of which 3 are en suite-a guest toilet, a wine cellar, a sauna, a laundry room, a dressing room and several storage rooms. A veranda surrounds the second floor and a guest house facing the garden with pool with access from 2 streets, has a living room with fireplace, a kitchen, 2 bedrooms, a bathroom renovated in 2021 and a terrace. The property is sold in partially furnished condition and is equipped with, among other things, an elevator, air conditioning and central heating, a carport, Persian carpets, paintings, antique sculptures and a rental license for 12 vacation guests. In Palma's prime residential area of Son Armadams, surrounded by Palma's typical alleys, just a few steps from the Paseo Marítimo, the Santa Catalina district and the city centre, close to the cathedral and with all shopping facilities, schools, kindergartens, medical services, public transport and the most exclusive bars and restaurants. The annual property taxes (IBI) are about 600 and the waste fees are 126 per year.
Exceptional urban palace with pool, guest house and vacation rental license in Palma's residential area of Son Armadams. Built on a plot of 1,560 m in 1967, the house with elevator offers on a 3-storey living area of 610 m a living and dining room, 2 kitchens, 9 bedrooms, 6 bathrooms-of which 3 are en suite-a guest toilet, a wine cellar, a sauna, a laundry room, a dressing room and several storage rooms. A veranda surrounds the second floor and a guest house facing the garden with pool with access from 2 streets, has a living room with fireplace, a kitchen, 2 bedrooms, a bathroom renovated in 2021 and a terrace. The property is sold in partially furnished condition and is equipped with, among other things, an elevator, air conditioning and central heating, a carport, Persian carpets, paintings, antique sculptures and a rental license for 12 vacation guests. In Palma's prime residential area of Son Armadams, surrounded by Palma's typical alleys, just a few steps from the Paseo Marítimo, the Santa Catalina district and the city centre, close to the cathedral and with all shopping facilities, schools, kindergartens, medical services, public transport and the most exclusive bars and restaurants. The annual property taxes (IBI) are about 600 and the waste fees are 126 per year.
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Currency Exchange
Palma, Mallorca, Spain
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,900,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,900,000 | £3,244,332 | £3,356,418 | £112,086 |
| Property Price € | €3,900,000 |
| Minimum cost in the last six months | £3,244,332 |
| Maximum cost in the last six months | £3,356,418 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £112,086 |
Palma, Mallorca, Spain
Interested in this property? Don't lose out to currency fluctuations changing the price you pay...
Many overseas buyers in Spain do not realise they can lose thousands of pounds through adverse currency exchange rate movements.
The property buying process in Spain takes time; it could be up to six months between seeing the property of your dreams and actually taking ownership. So how much would this €3,900,000 property cost you?
| Property Price € | Minimum cost in the last six months | Maximum cost in the last six months | Fluctuating exchange rates over the last six months could have increased the cost of this property by |
|---|---|---|---|
| €3,900,000 | £3,244,332 | £3,356,418 | £112,086 |
| Property Price € | €3,900,000 |
| Minimum cost in the last six months | £3,244,332 |
| Maximum cost in the last six months | £3,356,418 |
| Fluctuating exchange rates over the last six months could have increased the cost of this property by | £112,086 |
The exchange rate on the day you make an offer on your property in Spain will not be the same as the rate you pay when you complete on your purchase, as currency markets move constantly. Any large rate movements may take it beyond your price range as the chart above illustrates the fluctuation and how much extra your property could have cost you.
The best way to avoid this significant risk is to plan your budget and currency strategy with an experienced currency specialist. They have been known to save you up to 4% compared to many high street banks, £4,000 for every £100,000, which soon adds up. They will also keep you up to date on market movements, help you set a rate in advance with a product called a Forward Contract - so you know exactly what you will pay for your property in sterling.
This is why we recommend Smart Currency Exchange Ltd. If exchange rate movements continue to be as unpredictable and as significant as they have been in the past then by not using Smart Currency Exchange Ltd your property could cost you £112,086 more.
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