Mallorca property prices split: Balearic 80m² flat €428,766

On Mallorca in the Balearic Islands, used-home prices are moving in opposite directions: they are up 27.6% over a year in Capdepera but down 8.2% in Llucmajor. Across the islands, an 80-square-metre used flat costs an average of €428,766 in October, up from €415,849 a year earlier, according to figures released by property platform Fotocasa on Tuesday, 3 November. The average price is €5,360 per square metre, up 3.1% on last October and 0.2% on September.

Slower rises, but Spain’s highest prices

The annual increase is the second-lowest since May 2022. The Balearic Islands have the smallest rise in used-home prices of any Spanish region, yet they remain the most expensive per square metre.

Fotocasa spokeswoman María Matos says prices have become difficult for local buyers to afford. Tougher financing conditions are also slowing sales, she says.

Mallorca’s towns move apart

Capdepera’s 27.6% annual rise contrasts with increases of 13.4% in Inca and 3.7% in Palma. Llucmajor’s prices, meanwhile, have fallen 8.2%.

The gap shows up in October’s price per square metre, too. Andratx averages €7,742, while Felanitx stands at €2,942 — the lowest figure among the 14 Balearic municipalities Fotocasa examined.

Topics: Housing · Capdepera · Inca · Son Servera · Calvià · Manacor · Palma · Llucmajor · Andratx · Campos · Felanitx

Source: Europa Press / Mallorca.com