The Balearic Islands continue to hold the title of Spain’s priciest province for purchasing a home, with the average price of second-hand properties surpassing €5,000 per square metre. In August 2025, the islands saw an annual increase of 12.3%, slightly below the national average, yet still reflecting strong demand from both local and international buyers.
For foreigners looking to buy property in Mallorca, Ibiza real estate, or homes for sale in Menorca, the Balearics present a dynamic real estate market where prices are steadily climbing. In total, 25 municipalities across the archipelago reached record prices for resale properties. Among them, Ibiza’s Sant Joan de Labritja topped the list, with an average of €8,959/m², followed by Sant Josep de Sa Talaia (€7,367/m²) and Sant Antoni de Portmany (€6,927/m²). Mallorca’s Calvià (€6,925/m²) and Ibiza town (€6,879/m²) complete the top five municipalities in terms of property values.
Biggest price increases in the Balearic Islands
Notably, Sant Antoni de Portmany experienced the sharpest annual increase at 19.6%, followed by Sant Joan de Labritja (13%). Other high-priced municipalities showed more moderate growth, including Calvià (8.7%), Sant Josep de Sa Talaia (6.4%), and Ibiza town (3%).
Outside the top five, Mallorca experienced some remarkable price surges. Colonia de Sant Pere led with an impressive 37.5% annual rise, followed by Felanitx (+30.2%), Inca (+26.4%), and Muro (+23.1%). The Balearic capital, Palma de Mallorca, also recorded a significant increase of 17.2%, pushing the average price of second-hand homes in the city to €5,006/m².
Other notable price trends include:
- Campos: €4,704/m² (+21.6%)
- Sant Lluis: €5,011/m² (+18.8%)
- Capdepera: €4,079/m² (+16.6%)
- Ciutadella de Menorca: €3,898/m² (+16.2%)
For foreign investors and expatriates considering Balearic Islands property, these figures highlight both the premium nature of properties in popular municipalities and the rapid growth in prices across the region. Whether seeking a bustling city like Palma, a coastal hotspot in Ibiza, or quieter corners of Menorca, prospective buyers should be prepared for competitive prices and dynamic market conditions.
Average Second-Hand Property Prices (€/m²) and Annual Change (%) in selected Balearic Island municipalities
| Municipality | Price €/m² | Annual Change % |
|---|---|---|
| Sant Joan de Labritja | 8,959 | 13.0 |
| Sant Josep de Sa Talaia | 7,367 | 6.4 |
| Sant Antoni de Portmany | 6,927 | 19.6 |
| Calvià | 6,925 | 8.7 |
| Ibiza | 6,879 | 3.0 |
| Puerto de Pollença | 5,336 | 11.1 |
| Sant Lluis | 5,011 | 18.8 |
| Palma de Mallorca | 5,006 | 17.2 |
| Colonia de Sant Pere | 4,887 | 37.5 |
| Campos | 4,704 | 21.6 |
| Alcúdia | 4,677 | 13.8 |
| Pollença | 4,386 | 6.1 |
Foreign investment in the Balearic Islands remains strong
The Balearic Islands property market remains highly attractive for international buyers, offering a mix of luxury living, Mediterranean lifestyle, and solid investment potential. With rising prices across Mallorca, Ibiza, and Menorca, now is a crucial time for buyers to explore opportunities, whether for a holiday home in Mallorca, rental investment in Ibiza, or a permanent residence in Menorca in Spain’s most desirable islands.