In 2024, the average home price in the region of Balearic Islands, Spain, is $834,000, at a price per square foot of $417. By comparison, the national average cost to buy a house in Spain is $418,000, or $209 per square foot.
Real estate in Balearic Islands is sought-after by foreign and local buyers alike, and prices have changed by 12.7% compared to the previous year. Homes located in the most popular towns in Spain, frequented by tourists, tend to be more valuable, while living in remote or lesser-known locations is typically more affordable.
Here’s how Balearic Islands property prices compare to other regions of Spain:
Andalusia $424,000
Aragon $290,000
Asturias $280,000
Balearic Islands $834,000
Canary Islands $498,000
Cantabria $322,000
Castilla and León $240,000
Castilla-La Mancha $188,000
Catalonia $478,000
Valencia $362,000
Basque Country $586,000
Extremadura $196,000
Galicia $282,000
La Rioja $272,000
Madrid $656,000
Murcia $242,000
Navarre $344,000
House prices in the cities and towns of Balearic Islands, in US dollars
The most expensive town to buy a house in Balearic Islands is Formentera, where a 2,000 square foot home costs on average $1,744,000. That’s a price per square foot of $872.
The most affordable place in Balearic Islands to buy a house, of the locations analyzed, is Pobla , where you can purchase a 2,000 square foot home for as little as $306,000, or $153 per square foot, on average.
Real estate prices in Balearic Islands’ main cities and towns:
Alaró $712,000
Alcúdia $760,000
Cala Millor $628,000
Calvià $1,228,000
Capdepera $628,000
Ciutadella de Menorca $584,000
Colonia de Sant Jordi $824,000
Eivissa $1,218,000
Es Castell $554,000
Esporles $678,000
Formentera $1,744,000
Fornells $776,000
Inca $378,000
Llucmajor $664,000
Maó/Mahon $530,000
Marratxi $644,000
Palma de Mallorca $792,000
Pobla $306,000
Pollença $740,000
Porto Colom $734,000
Puigpunyent $710,000
Sa Coma $710,000
Sant Antoni de Portmany $1,084,000
Sant Joan de Labritja $1,542,000
Sant Josep de Sa Talaia $1,424,000
Santa Eulalia del Río $1,346,000
Santa Margalida $548,000
Santanyi $920,000
Soller $866,000
Planning to move to Spain? Find out all you need to know about how to buy property in Spain as a foreigner.
Balearic Islands Spain property prices, in Euro
An average 200-square-meter house in Balearic Islands sells for around €816,600, or €4,083 per square meter. Property prices in Baleares have changed by 12.7% compared to last year.
Of the locations analyzed, the priciest properties in Balearic Islands can be found in Formentera, going for €1,706,400, on average, or €8,532 per square meter.
On the other hand, the cheapest house prices in Balearic Islands are in Pobla , where an average-sized home goes for €299,400. That is based on an average of €1,497 per square meter.
See how much it costs to buy property in other locations in Balearic Islands:
Alaró €696,400
Alcúdia €743,000
Cala Millor €615,000
Calvià €1,202,400
Capdepera €613,600
Ciutadella de Menorca €571,600
Colonia de Sant Jordi €805,600
Eivissa €1,192,400
Es Castell €541,200
Esporles €663,800
Formentera €1,706,400
Fornells €759,000
Inca €369,400
Llucmajor €650,600
Maó/Mahon €519,400
Marratxi €630,000
Palma de Mallorca €775,400
Pobla €299,400
Pollença €725,000
Porto Colom €719,200
Puigpunyent €694,000
Sa Coma €694,200
Sant Antoni de Portmany €1,061,000
Sant Joan de Labritja €1,509,400
Sant Josep de Sa Talaia €1,394,200
Santa Eulalia del Río €1,316,200
Santa Margalida €536,000
Santanyi €900,600
Soller €848,000
Home prices vary depending on the condition of the property, the size of the home, and, of course, the location. For example, apartments and homes located in historic town centers tend to be more expensive than in other areas of the town, partly because of their proximity to amenities and partly because of their higher rental value. Moreover, properties in need of extensive renovation are typically priced much lower than those that are in move-in condition.
Methodology:
- When using or citing this data, please give credit with a link to My Dolce Casa
- Home price data source: Idealista, valid as of the date of this report
- Original prices published in euros per square meter
- Euros converted to U.S. dollars at an exchange rate valid as of the date of this report
- Square meters converted to square feet
- The average price of a 2,000 square foot home was calculated by multiplying the price per square foot in USD by 2,000
- The average price of a 200 square meter home was calculated by multiplying the price per square meter in Euro by 200
