Four Ibiza municipalities among the ten most expensive places to buy a home in Spain

The property market in Ibiza continues to reach record levels. According to data from the Fotocasa Price Index for February 2026, Santa Eulària, Sant Antoni, Ibiza Town and Sant Josep are among the ten most expensive municipalities in Spain for buying a home. The list is topped by Santa Eulària, with a price of €8,746 per square metre, the highest in the country.

In general terms, buying an 80-square-metre flat in the Balearic Islands costs an average of €425,377, placing the islands among the most expensive regions in Spain for housing, both for purchasing and renting. In the rental market, the average price in the Balearics stands at €18.57 per square metre, equivalent to around €1,485 per month for an 80-square-metre property. Palma shows similar figures, with an average monthly rent of €1,503.

Predictions for 2026

Fotocasa’s artificial intelligence forecasts that property purchase prices in the Balearic Islands will continue to rise. Palma is expected to record a 3.1% increase in housing sales during the first quarter of 2026. In the rental market, the Mallorcan capital could see quarterly growth of around 7.4%.

Ranking of the most expensive municipalities

According to the latest Fotocasa report, seven of the most expensive municipalities in Spain to buy a home are located in the Balearic Islands, four of them in Ibiza:

• Santa Eulària: €8,746/m²
• Sant Antoni: €8,324/m²
• Ibiza (Eivissa): €7,612/m²
• Sant Josep: €6,899/m²

The top ten is completed by Donostia–San Sebastián (Gipuzkoa), Calvià, Andratx, Campos, Zarautz (Gipuzkoa) and Sant Just Desvern (Barcelona).

Consequences for buyers

These high prices make access to housing increasingly difficult, particularly for young people and first-time buyers. In response to this situation, the Balearic Government offers assistance schemes aimed at helping residents purchase their first home.