According to the latest figures from the College of Notaries, house prices in the Balearics rose by 15.2% in 2024. This meant that the price of a property increased on average by 46,560 euros.
The average price per square metre went up to 3,435 euros. The College takes the example of an average size of 101 square metres, for which the price at the end of December 2024 was 346,935 euros.
Another example given by the notaries is that for a house with 209 square metres. The average per square metre was up to 4,152 euros, a sales price of 867,768 euros, which was almost 125,000 euros higher than in 2023.
The increases were unmatched by another Spanish region, leading to a further widening of the price gap between the Balearics and other regions. For Spain as a whole there was a 6.9% rise.
The 15.2% increase, the College notes, was the highest since 2007. The financial crisis led to a fall in prices and to an average per square metre of 1,898 euros by 2013. For a property with 101 square metres, therefore, a price of 191,698 euros twelve years ago was almost half what it was in 2024.