Balearic Islands: solo buyers face 22.40-year wait

In the Balearic Islands, someone buying a home alone faces an estimated 22.40 years of saving for the deposit and purchase costs — longer than in any other Spanish region. Mortgage broker iAhorro published the figures on 10 November 2026. They cover the Balearic Islands as a whole; there is no separate estimate for Mallorca.

Saving for the upfront cost

Across Spain, iAhorro calculates that a solo buyer would need €75,132 for the deposit and costs on a €250,441 home. Saving 20% of gross annual pay, they would take 12.72 years on average. The comparable wait is 19.65 years in the Madrid region and 18.35 years in the Canary Islands.

What one salary can buy

On an average take-home income of about €1,900 a month, iAhorro puts the affordable mortgage payment at roughly €665. At a 2.23% interest rate over 30 years, that allows a loan of about €174,000 — enough for a home costing around €217,500 if the bank lends 80% of the price.

The broker’s completed mortgages show another gap. Solo buyers put in an average of €74,850 of their own money, before taxes and purchase costs. Couples put in €89,701 together, or about €44,850 each. Even so, 44.54% of first-home mortgages arranged through iAhorro so far in 2026 have a single borrower.

Topics: Housing

Source: Europa Press / Mallorca.com