A top-floor apartment (ático) with a large terrace and often panoramic sea views. Priced at the higher end of the apartment market. Palma is one of Spain's most sought-after cities for both short- and long-term rentals. Demand from digital nomads and affluent expats keeps rents high, particularly in Santa Catalina and the Old Town.
Those who want the convenience of an apartment combined with the outdoor living of a villa — perfect for sunsets.
Price level: Typically 20-40% more expensive than a regular apartment in the same building, thanks to the terrace and views.
Penthouses for long-term rental in Palma — what you need to know
Penthouses for long-term rental in Palma are a popular choice for international buyers on the Mallorca. Here is our complete guide — with prices, practical advice and what to look out for.
Penthouses (áticos) are the most exclusive apartments in Palma — rooftop apartments with large private terraces, panoramic views and in many cases a private outdoor pool reserved for just that top apartment. Pricewise, they typically sit 20-45% above comparable apartments in the same building, but for that money you get a property type that combines apartment convenience with the outdoor living and privacy of a villa. The terrace access gives you space for outdoor dining and relaxing with views over Palma and the sea — something international buyers consistently rank as a top priority.
In Palma, the penthouse market is characterised by strong and consistent demand from international buyers, as they offer an experience that is hard to find elsewhere: breakfast on your private terrace with a sea view, typically no neighbours above you, and the best natural light in the entire building. Bear in mind that rooftop terraces come with the highest maintenance cost — waterproofing needs to be checked and maintained regularly to prevent rainwater ingress. Always ask about the status of the roof waterproofing in the owners' association minutes before buying.
Compared with other property types, penthouses in Palma tend to have the shortest time on the market and the strongest price growth — they rarely sell below asking price in the most popular urbanizaciones. Be aware, however, that the term is used broadly: from true rooftop apartments with a private pool to simply the top floor with a slightly larger balcony. Verify that the size and legal status of the terrace are reflected in the title deeds, as private terraces are not always correctly registered at the land registry.
Prices for penthouses in Palma
Palma is one of the most expensive and exclusive property markets compared with the rest of the Mallorca. Penthouses in Palma typically cost 390,000-910,000 EUR (20-40% premium over a regular apartment for the terrace and views) — equivalent to around 3,500-7,000 EUR per square metre or more for a well-maintained property. On top of that, allow for a deposit of 1-2 months' rent and any administration fees.
For a long-term rental, monthly rent typically lands at 1,200-3,500 EUR or more per month for a 2-bedroom apartment. If you opt for short-term/holiday letting instead, prices vary strongly by season — expect 1,500-10,000 EUR or more per week in high season for a villa with a pool in high season.
Penthouses in Palma — the town's character and location
Palma is one of Spain's most sought-after cities for both short- and long-term rentals. Demand from digital nomads and affluent expats keeps rents high, particularly in Santa Catalina and the Old Town.
Palma attracts international buyers for: the la seu cathedral and a world-class old town, europe's busiest marinas and maritime life and direct flights to almost all of europe. This makes Palma an attractive place to rent a penthouse — not only for personal use but also for letting out and future resale. Need an English-speaking local estate agent in Palma? Contact us here and we will put you in touch with the right local advisor.
Long-term rental of penthouses in Palma — practical advice and terms
Long-term rentals (over 6-12 months) are regulated by the Spanish tenancy law (LAU) and give you as a tenant significantly stronger rights — including the possibility of staying for up to 5 years, even if the contract was originally shorter. Always get the rental agreement in writing, confirm the deposit terms and make sure a check-in report is in place documenting the property's condition at handover.
Penthouses in Palma are an attractive option on the Mallorca for long-term tenants. Verify that the property is correctly registered, and ask for a copy of the energy certificate. Solhav is happy to put you in touch with an English-speaking rental specialist in Palma — book a no-obligation chat here.
FAQ: Penthouses in Palma
What do penthouses in Palma cost?
Penthouses in Palma typically cost 300,000-700,000 EUR, depending on location, condition and any views. Beachfront properties and those with sea views are at the upper end of the range. Remember to add ITP transfer tax (8-11% (progressive based on price) in the Balearic Islands) plus notary and legal fees to the buying costs.
Is a penthouse in Palma a good choice?
Those who want the convenience of an apartment combined with the outdoor living of a villa — perfect for sunsets. Palma is on the Mallorca and offers one of the most expensive and exclusive property markets — making a penthouse here an attractive choice compared with many other destinations on the coast.
What should I check when renting a penthouse in Palma?
Community fees (cuota de comunidad), the owners' association finances and any upcoming maintenance works. Ask for the association's minutes and balance sheet for the past two years.
Can I let out my penthouse in Palma when I am not using it?
Yes. Short-term letting requires a tourist licence issued by the the Govern de les Illes Balears. The licence number must appear in all listings on Airbnb and Booking.com, and fines for unlicensed letting can run into tens of thousands of euros.
Want to rent a penthouse in Palma?
Contact us for a no-obligation chat about penthouses in Palma. We give impartial advice and help you move forward — wherever you are in the process.
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