Palma Bay Residences
Palma, Mallorca · Balearic Islands
- STATUS
- Completion Q2 2028
- BEDROOMS
- 2–3 beds
- BUILT AREA
- 105–175 m²
- TERRACES
- 25–120 m²
- ENERGY RATING
- A
- DEVELOPER
- Not stated
About the development
Seafront apartments on Palma's bay, ten minutes from the old town. This is an example listing used while the site is being built: the project, its units and its figures are invented to show how a development page works.
Units and prices
- 2 bed apartment2 bed · 105 m² · terrace 25 m²€895Kavailable
- 3 bed penthouse3 bed · 175 m² · terrace 120 m²€1.95Mavailable
| UNIT | BEDS | BUILT | TERRACE | PRICE | STATUS |
|---|---|---|---|---|---|
| 2 bed apartmentMiddle floor | 2 | 105 m² | 25 m² | €895,000 | available |
| 3 bed penthousePenthouse | 3 | 175 m² | 120 m² | €1,950,000 | available |
Payment plan
| On contract (including reservation) | 30% | €268,500 |
| During construction | 20% | €179,000 |
| On completion, at the notary | 50% | €447,500 |
Amounts based on the lowest price in the development.
The listing states that payments before completion are covered by a bank guarantee or insurance. Your lawyer should check the certificate for each payment. How deposit protection works
How you are protected
Every stage payment guaranteed
Money you pay before completion must be covered by an aval bancario or insurance and paid into a special account used only for the construction. If the home is not built or not finished on time, you are repaid with interest.
- 10Structure · 10 yearsFoundations, beams, slabs and load-bearing walls, backed by the compulsory seguro decenal.
- 3Installations · 3 yearsDefects that affect habitability: waterproofing, plumbing, electrics, insulation.
- 1Finishes · 1 yearPaint, tiling, carpentry and fittings, claimed from the builder.
Liability periods under art. 17 of Ley 38/1999 (LOE), counted from the formal acceptance of the works. How guarantees and warranties work
What it costs to buy
| Price | €895,000 |
| IVA (10%) | €89,500 |
| Stamp duty, AJD (1.5%) | €13,425 |
| Notary and land registry (estimate)estimate | €7,160 |
| Independent lawyer (estimate)estimate | €10,830 |
| Total cost | €1,015,915 |
About 13.5% on top of the price in Illes Balears. A 2% rate applies to properties of about €1 million or more; check the exact threshold with your lawyer.
New-build purchase from the developer in Illes Balears, buyer without main-home reductions, as of 16 Oct 2026.Work out costs for another priceComparing with an older home? See the ten-year cost of new build vs resale
Letting this home
LETTING TO TOURISTS · BALEARIC ISLANDS
Register: Estancia turística en vivienda (ETV), by declaración responsable to the island council; tourist places are capped and must be acquired
- Mallorca: Palma has moved to stop new tourist rental places across the municipality.
- A home generally needs five years of private residential use before it can be let to tourists, which rules out a new build at first.
- New tourist places in apartment buildings are barred on all the islands (Decreto ley 4/2025).
Town halls add their own rules and change them often. Confirm with the town hall and the regional tourism department before you buy. Position as of 16 Oct 2026. Tourist licences region by region
EVERYWHERE IN SPAIN
- In a building with a community of owners, a new tourist rental needs the community's express approval by three-fifths of owners and quotas (since 3 April 2025).
- Long-term lets follow the LAU: for an individual landlord a tenant can stay up to five years, and the deposit is one month's rent.
- Spain taxes rental income of non-residents at 19% (EU/EEA) or 24% (others) through IRNR.
Features
- Communal pool
- Sea views
- Town
- Lift
- Gym
- Underground parking
- Storage room
- Air conditioning
- Underfloor heating