Mallorca property: Balearic prices hit €3,173/m²
Mallorca homebuyers face a Balearic-wide average price of 3,173 euros per square metre: new and existing homes across the islands have passed 3,000 euros for the first time. Property research group Grupo ST published the figures on Thursday, 1 October 2026. Balearic prices are up 9.3% from a year earlier, one of the steepest rises among Spain’s regions.
Only the Community of Madrid has a higher average, at 3,583 euros per square metre. Catalonia stands at 2,986 euros, while the average across Spain is 2,173 euros for the first half of 2026.
Too few homes for sale
Grupo ST says too few newly built homes are coming onto the market to meet demand. That pushes more buyers towards existing homes, which are also in short supply in areas where demand is strongest.
Buying takes more of a salary
Across Spain, house prices are rising faster than wages, the group says. Its measure of the financial strain of buying a home rose 3.6% over the past year. On its national calculation, buying a typical 90-square-metre home worth about 195,000 euros would take almost eight years of full salary.
A separate measure of how affordable a standard home is on an average wage fell 8% from a year earlier to 80 points. It declined in every Spanish region.
Grupo ST expects a quieter property market towards the end of 2026, but says limited supply makes a marked change in the price trend unlikely. It forecasts a Spanish average of 2,255 euros per square metre for December; it gives no separate forecast for Mallorca or the Balearics.
Source: Europa Press / Mallorca.com