According to the police, one of the trio slipped into the house via the terrace and then let his two accomplices in.
As soon as all three were inside the house, they sat upon the owner, tying her up and holding a pair of scissors to her neck threatening to kill her unless she handed over money and jewels.
The owner, a Spaniard, was so over come by shock, she offered no resistance and the three men, who apparently spoke Spanish but with heavy Arab accents quickly robbed the house before moving the woman to a bedroom where they taped her up and then making their escape.
The victim waited a while to ensure that the coast was clear and eventually managed to break free from the isolating tape and call the police.
Members of the Guardia Civil from Palmanova were first on the scene but the investigation is now being handled by the serious crime squad.
At going to press last night, no arrests had been made but officers were apparently following up a number of leads and are confident that the three men will be detained over the next few days.
In the meantime, police have stepped up patrols in the area to ease the tension in the local community.