With an average price of 2.15 million euros for single-family homes, the Dalt Vila-La Marina area of Ibiza attracts 72.9% of the demand from abroad. Germans, Dutch and British are the most interested in buying a villa in the area. But interest in luxury apartments, with an average price of 1.9 million, is also high.
73.3% of demand for apartments is in Puerto Andratx where average prices reach 1.87 million euros. Germans, British and Swedes are the most interested in both apartments and the villas in the area, which have average prices of almost 7.5 million euros. Up to 66.8% of the demand for these single-family homes comes from abroad.
Another of the key market areas is Peguera, in Calvia, where up to 68.2% of foreign demand is for apartments, which reach an average price of 1.59 million. Meanwhile, as far as villas are concerned, 39.7% of those interested are foreigners, with an average price of 4.25 million euros. And, property rental rates in the Balearics do not appear to be showing any signs of falling, despite the heated debate about the housing crisis, lack of it and high rates which young people and overseas workers can not afford.
Five municipalities in the Balearics were among the most expensive areas to rent a property in the last quarter of 2024, according to a study by Idealista that analyses nearly 150 municipalities in the country. Santa Eulària des Riu in Ibiza had the second highest average total rental price in the most sought-after areas, at 3,919 euros per month. In fourth place was Sant Josep de Sa Talaia (3,566 euros), followed by Calvia (2,828 euros), Sant Antoni de Portmany (2,597 euros) and Ibiza Town (2,584 euros). Among the most sought-after areas in Mallorca, those that registered the highest prices in the last quarter of the previous year were Llucmajor (2,052 euros), Palma (1,688 euros) and Manacor (1,407 euros).
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