Es Vedrà image: Benn Pinto Studio
Ibiza’s districts—San Juan, San José, San Antonio de Portmany and Ibiza Town command some of the priciest real estate in Spain and rank within the country’s top five most expensive places to buy property.
By Ibiza Property Journal Editorial
Bathed in the glow of sunset, Es Vedrà stands as a timeless emblem of Ibiza’s beauty and magnetism. Much like this iconic island landmark, Ibiza’s real estate market continues to captivate, with soaring property values driven by high demand from international, as well as local buyers. Across the Balearic Islands—Ibiza, Mallorca, and Menorca, real estate remains the priciest in Spain, with Ibiza leading the way. According to a recent report by Idealista, Spain’s major online real estate marketplace, 25 municipalities in the Balearics hit record resale prices. The study, which tracked property trends across all Spanish municipalities, highlights just how dynamic the Ibiza housing market has become –
- The Balearic Islands’ prices overall went up by 12.3% in a year
- The average increase across all Spanish provinces was slightly above 12.3%
- Ibiza’s San Antonio De Portmany recorded the highest increase on the island – up by 19.6% in a year
- Ibiza´s Sant Joan de Labritja, is the most expensive place to buy a property in Spain – €8,959 per m²
Even though the Balearic islands’ growth rate in 2025 was below the average in Spain, they still have the highest overall property prices for pre-owned homes – over €5,000 per square meter, reflecting the islands’ strong demand from discerning buyers from around the globe. This figure means that houses in the Balearics have a higher value than those in Spains capital city Madrid, where the average price per square meter for residential properties is – €4,664 reflecting a 19.5% increase over the past 12 months [source: Spanish Property Insight].
The Top Five Most Expensive Places To Buy Property in Spain 2025
- Sant Joan de Labritja, Ibiza €8,959/m².
- Sant Josep de Sa Talaia, Ibiza (€7,367/m²)
- Sant Antoni de Portmany, Ibiza (€6,927/m²)
- Calvià, Mallorca (€6,925/m²)
- Ibiza town, Ibiza (€6,879/m²)
The surge in property values reflects strong demand across both secluded countryside estates and Ibiza’s cosmopolitan hubs and coastal towns. Notably, San Antonio—once overlooked compared with the rest of the island—recorded the highest increase, with prices rising by 19.6% over the past year. Sant Joan de Labritja, famous for its picturesque countryside and authentic ibicencan architecture, saw a 13% increase in prices, reaching over 8,000 euros per square metre, making it the most expensive district in all of Spain to buy property. Sant Josep de Sa Talaia (6.4%) and Ibiza Town (3%) also posted steady growth.
Whether you’re dreaming of a home close to Ibiza’s beach towns or in the serene countryside, in Mallorca’s rolling hills or Menorca’s peaceful coastlines, the Balearic Islands boats a real estate offering that’s lively, with prices steadily on the rise. It’s not hard to see why: with their mix of rustic and modern architecture, year-round sunshine, breathtaking scenery, and a lifestyle that’s hard to beat, the islands appeal to everyone.
The pretty church square in San Antonio De Portmany. In this municipality there’s also a vibrant town and a busy boat harbour – contrastingly, in the north of the San Antonio De Portmany district we find scenic countryside in the exceptionally peaceful Santa Agnes and San Mateo.
Beyond the top five, Mallorca saw several striking price increases. Colonia de Sant Pere topped the list with an impressive 37.5% annual rise, followed by Felanitx (+30.2%), Inca (+26.4%), and Muro (+23.1%). Meanwhile, the Balearic capital, Palma de Mallorca, recorded a strong 17.2% increase, bringing the average price of second-hand homes in the city to €5,006 per square metre [source: Idealista]
Don´t Buy In The Balearics Without A Good Strategy
Buying property in the Balearics requires a good strategy (from the best real estate agent), good decision making skills, and—above all—patience, be it for a holiday haven, a savvy rental investment or a permanent Mediterranean sanctuary. Many buyers spend years in pursuit of their ideal home before finally turning the key. The reason is simple: demand is high, supply is limited, and the islands’ real estate scene is brimming with eager agents – and even more eager buyers. With a mix of culture, luxury living, nature, iconic nightlife, Mediterranean lifestyle and enduring investment value, it’s no surprise that many homeowners on ibiza are reluctant to part with their piece of paradise. That said, this doesn’t apply to everyone—eventually, the right property will come along. However, the waiting time in Ibiza is significantly longer compared to other locations, particularly at the lower end of the market, or for an original Casa Payesa.
Average Second-Hand Property Prices (€/m²) and Annual Change (%) in Ibiza and Mallorca 2025 (source: Idealista)
| Municipality | Price €/m² | Annual Change % |
|---|---|---|
| Sant Joan de Labritja, Ibiza | 8,959 | + 13.0 |
| Sant Josep de Sa Talaia, Ibiza | 7,367 | + 6.4 |
| Sant Antoni de Portmany, Ibiza | 6,927 | + 19.6 |
| Calvià, Mallorca | 6,925 | + 8.7 |
| Ibiza Town, Ibiza | 6,879 | + 3.0 |
| Puerto de Pollença, Mallorca | 5,336 | + 11.1 |
| Sant Lluis, Mallorca | 5,011 | + 18.8 |
| Palma, Mallorca | 5,006 | + 17.2 |
| Colonia de Sant Pere, Mallorca | 4,887 | + 37.5 |
| Campos, Mallorca | 4,704 | + 21.6 |
| Alcúdia, Mallorca | 4,677 | +6.1 |
| Pollença, Mallorca | 4,386 | + 6.1 |
Meanwhile, in this report from Idealista it states that over three-quarters of prospective homebuyers in Spain (76.52%) are unable to buy a property in their desired area, largely due to high prices and limited availability. These findings come from the 2025 Buyer Profile Study in Real Estate Agencies, presented by the Spanish Federation of Real Estate Associations (FAI) at the FAI Conecta Spanish Congress in Toledo.
