From the squatter eyesore to a luxury project: Penthouses in Palma for €1.55 million.

From the eyesore to a luxury address – and right in the heart of Palma

For years, the building at the corner of Comte de Barcelona and Rodríguez Arias stood as a neighborhood eyesore: windows bricked up, trash in the driveway, the occasional grumble from residents. I’ve even heard the garbage trucks cursed on Sundays. Now, apparently, peace is returning – and a completely different crowd of people.

What is planned

A developer with investors from Austria has bought the house and is converting it according to plans by architect Nadal Mir Pons. The result is to be called “Luxury Living Palma”: two generous penthouses with around 130 m² of living space each, a generous terrace (about 100 m²) and a private pool, at the center of the offering. Price: €1.55 million each. In addition, there are more apartments between €600,000 and €850,000 and ground-floor spaces for offices or shops.

A small, but not insignificant detail: 30 underground parking spaces belong to the project – and in this corner of Camp d’en Serralta they are worth their weight in gold. Each parking space is estimated at around €75,000.

Neighborhood — between relief and skepticism

Some houses on the side street are breathing a sigh of relief. "Finally they’re clearing that thing out," says a bakery worker who sells croissants early in the morning at the Porta de Santa Catalina. Others view it with mixed feelings: gentrification is a word that is quickly spoken. From a quarter where people knew each other, a place with a luxury connection is slowly taking shape.

Practically speaking: The three apartments on the first floor are already sold; construction work is set to begin in the coming days. The target move-in date for the first owners is February 2026 – less than a year and a half if all goes smoothly.

I think: This is a piece of urban renewal that clearly shows how quickly a neighborhood can change. Some celebrate it – others hold onto memories of the years of stagnation. Who's right will become clear when the first workers put away their ladders and the terrace furniture is set up.