Mallorca: Palma rents hit new high after 7.3% rise

Mallorca’s capital, Palma: rents hit a record 19.6 euros per square metre after rising 7.3% in a year. Property portal Idealista reported the figures on Thursday, 1 October 2026. Across the Balearic Islands, rents rose 3.6% to 20.2 euros per square metre.

Among the municipalities Idealista studied, Felanitx on Mallorca had the steepest annual rise, at 13.6%. Rents climbed 11.6% in both Manacor and Marratxí. Inca, at 13 euros per square metre, was the cheapest of the Balearic markets surveyed.

The pace of increases may be easing, but finding a home remains difficult. Across the Balearics, rents rose 0.8% in the last quarter and stand 0.2% below their May record. Idealista spokesman Francisco Iñareta said rent growth appeared to be slowing gradually. But he said the supply of rental homes was still falling, making housing harder to find, particularly for vulnerable people and the middle classes. He does not expect access to improve in the short or medium term.

Topics: Housing · Politics · Economy · Palma · Felanitx · Manacor · Marratxí · Inca

Source: Europa Press / Mallorca.com