In August 2025, the Balearic Islands firmly established themselves as the most expensive region in Spain for purchasing resale property. The average price per square meter here surpassed €5,000 for the first time, marking a year-on-year increase of 12.3%. Moreover, 25 municipalities in the region recorded all-time highs in property values.
Sant Joan de Labritja on Ibiza stood out in particular, with the price per square meter reaching almost €9,000. It was followed by Sant Josep de Sa Talaia and Sant Antoni de Portmany, where prices also exceeded €7,000 and €6,900, respectively. Calvià, the only representative from Mallorca in the top five, saw property selling at €6,925 per square meter. The top five was rounded out by Ibiza’s capital, just under €6,900 per square meter.
The most rapid annual growth was recorded in Sant Antoni de Portmany—nearly 20%. In Sant Joan de Labritja, prices rose by 13%, while Calvià, Sant Josep de Sa Talaia, and Ibiza saw more modest increases, ranging from 3% to 8.7%. Outside the top five, several municipalities in Mallorca stood out: in Colonia de Sant Pere, prices jumped by 37.5%; in Felanitx, by 30%; in Inca, by 26%; and in Muro, by 23%.
Palma, the largest city in the Balearic Islands, also saw significant change: here, the average price of resale property grew by 17.2% to reach €5,006 per square meter, setting a new record for the city.
Across Spain, August saw an increase in resale housing prices in 43 provinces. Madrid recorded the most significant surge—up 23.3% over the year, with the average price in the capital now reaching €4,384 per square meter. Additionally, 35 municipalities in the Madrid region set new price records.
On average nationwide, the cost per square meter on the secondary market in August reached €2,498—the highest figure ever recorded. The Spanish real estate market continues to demonstrate strong momentum, with the Balearic Islands maintaining their lead as the most expensive region.
