Luxury Apartment for Sale in XO Jay Residence, Palma–Portixol

Mallorca Dream Living presents this bright and contemporary apartment on the second floor of an exclusive designer residence in Palma. Facing the beautifully landscaped inner courtyard, the property offers a welcoming living and dining area with an open-plan kitchen, two comfortable bedrooms and two bathrooms, including an en-suite bathroom. A separate utility room and a private 6 m² balcony overlooking the peaceful courtyard complete the thoughtfully designed layout.

The apartment is situated in Nou Llevant, one of Palma’s most dynamic and promising neighbourhoods, ideally positioned between the historic city centre, the airport and the Mediterranean Sea. The charming waterfront district of Portixol, Palma’s city beach and the kilometre-long seafront promenade are all within walking distance. Restaurants, shops and supermarkets are located nearby, while a cycle path directly outside the residence provides an easy connection to the city. Palma Airport can be reached in approximately ten minutes by car, and several renowned golf courses are also just a short drive away.

The residence combines sophisticated contemporary architecture with an exceptional range of services and amenities. Floor-to-ceiling windows fill the interiors with natural light, while underfloor heating and air conditioning ensure year-round comfort. Residents benefit from an elegant chill-out area with an infinity pool, a private fitness area, sauna and steam bath, an exclusive owners’ lounge and a 24-hour concierge service, offering an effortless urban lifestyle in one of Palma’s most exciting locations.

For a purchase price of €980,000, the progressive Property Transfer Tax (ITP) is calculated as follows: the first €400,000 at 8% amounts to €32,000, the following €200,000 from €400,000 to €600,000 at 9% amounts to €18,000, and the remaining €380,000 from €600,000 to €980,000 at 10% amounts to €38,000. The total ITP payable is therefore €88,000. Estimated notary fees amount to approximately €2,000, while the estimated Land Registry fees are approximately €1,000. Consequently, the total estimated acquisition costs amount to €91,000, resulting in an estimated total investment of €1,071,000, including the purchase price. The calculation assumes that the transaction is subject to ITP as a resale property; legal fees, mortgage-related expenses and any other individual costs are not included.