According to the specs in the link you shared:
"Distance between centres 150mm. Swing 55mm."
I would say that this lathe is BARELY adequate for pen turning. . Yes it will work but ....
150 mm between centers is only 6". . "Standard" pen blanks are 5" long
55 mm swing is only 2"+. . That dimension is OK for the turning part, but does not leave much knuckle room for sanding, polishing, etc.
Proxxon is not a very common brand name for lathes even in USA. . There could be problems buying parts, as well as accessories like other chucks, dead and live centers, quick change tool posts, maybe even cutting tools .... this friend is in Israel ... I see that Proxxon is in Germany but they do have an office in Israel but they don't seem to list an online catalog for Israel
Oh, by the way, if you have a metal turning lathe, you can turn pens without buying wood-turning cutting tools and tool rests. You can use standard metal-turning tools, including replaceable carbide tip tools, in the supplied (and pictured) tool post.