Mallorca rents: Palma hits 19.72 euros per m²

Renting a home in Palma, Mallorca, cost an average 19.72 euros per m² in August 2026. Across the Balearic Islands, the average stood at 19.01 euros per m², putting the region second only to Madrid in Spain, according to property portal pisos.com.

The Balearic figure was down 0.62% on the previous month, but Madrid remained ahead at 21.80 euros per m². Catalonia ranked third at 16.84 euros per m².

Palma was the fourth-costliest provincial capital in the report. Barcelona led at 30.21 euros per m², followed by Madrid at 29.49 euros and Donosti at 21.51 euros.

The Spanish average was 14.86 euros per m² in August 2026, up 0.27% from the previous month and 8.55% from a year earlier.

Ferran Font, studies director at pisos.com, said the rental market faced far greater structural pressure. Available homes, he said, cannot meet demand from people who have no easy alternative.

The portal said difficulty buying a home is making renting the only route into the housing market for many. Rising prices mean younger people stay with their parents longer, while others may end up in homes they can afford but which are not in the area they want or do not meet their expectations.

Topics: Housing · Politics · Economy · Palma

Source: Europa Press / Mallorca.com