Property prices have doubled in Soller since 2021. | Photo: Majorca Daily Bulletin reporter
Humphrey CarterPalma13/10/2026 13:03
The Balearics is home to 15 of Spain’s 25 most expensive municipalities for property, with prices in Formentera reaching 10,332 euros per square metre and more than one million euros for a 100-square-metre property, making it the most expensive municipality in the country, according to data from pisos.com.
The report, covering September 2026, states that the 15 municipalities with the highest price per square metre in the Balearics are Formentera (€10,332), Santa Eulària des Riu (€9,027), Andratx (€8,543), Sant Josep de sa Talaia (€7,879), Calvia (7,526), Ibiza (7,445), Sant Antoni de Portmany (7,110), Soller (6,166), Santa Maria del Camí (5,763), Santanyí (5,621), Pollensa (5,324), Bunyola (5,110), Alcudia (5,078), Sant Lluís (4,987) and Campos (4,955).
In terms of price trends, three municipalities have seen their property values double since 2021. These are Andratx, with an increase of 122.1 per cent; Santa Maria del Camí, with 107.9 per cent; and Soller, with 106.1 per cent.
Furthermore, three other towns recorded rises of over 50 per cent: Bunyola, with 80.8 per cent; Sant Lluís, with 72.5 per cent; and Santa Eulària des Riu, with 68.9 per cent. The platform’s director of research, Ferran Font, explained that this phenomenon is caused by a combination of a severe shortage of developable land, ‘restrictive’ planning regulations, and buyers whose purchasing power is ‘far greater’ than that of local residents.
According to Font, prices are set against this benchmark, which is “a world away from local wages” and leads to “increasing difficulty for doctors, teachers and hospitality workers to find accommodation where they work”.
The Spanish property market in late 2026 is experiencing a highly polarised and politically charged environment, characterised by strong price growth, severe supply shortages, and a historic housing crisis. The market has become the focal point of the upcoming snap general election scheduled for November 29, 2026, sparked by massive nationwide protests and the collapse of the minority government's previous housing initiatives.
While the market is not moving in a single direction, prices across Spain have risen significantly, showing an average year-on-year growth rate of around 10% to 13%. Resale properties are currently outpacing new-builds due to severe construction delays and limited inventory.