The short answer. According to the Spanish land registrars, homes in the Balearic Islands sold for an average of €4,311 per m² in the second quarter of 2026, the second highest of any Spanish region. Palma averaged €4,291 per m², and 32.27% of Balearic purchases were made by foreign buyers. The Balearic Government's housing observatory found that advertised prices on property portals were more than 38% above the prices actually paid. Prime Mallorca is a separate market within these averages. Across the 49 homes we currently offer, the median asking price is €2.6 million, or €8,696 per m².
Most "Mallorca property price" pages give you one number and no source. This report separates three kinds of figure that are easy to confuse: prices recorded by the land registry, the price index from the national statistics institute, and asking prices, including ours. Each tells you something different, and serious buyers need all three.
1. Recorded prices: what buyers actually paid
The College of Land Registrars publishes the prices written into registered deeds. For the second quarter of 2026 its housing statistics (Registradores, Q2 2026 report, published 5 August 2026) show the following.
| Indicator, Q2 2026 | Spain | Balearic Islands |
|---|---|---|
| Average recorded price per m² | €2,487 | €4,311 (2nd highest region) |
| Palma, average per m² | €4,291 (4th highest provincial capital) | |
| Share of purchases by foreign buyers | 15.98% (a record) | 32.27% |
| Number of sales, change on previous quarter | −5.7% | |
| Number of sales, change on a year earlier | −2.3% | |
| Repeat-sales price index, change on a year earlier | +16.7% |
Two points stand out. Prices continue to rise while the number of transactions has fallen for two quarters in a row. That pattern usually means a supply-constrained market rather than one cooling on demand. And almost one Balearic purchase in three is made by a foreign buyer, twice the national share.
2. The price index: the direction of travel
The National Statistics Institute's housing price index measures the change in prices of comparable homes. For the second quarter of 2026 (INE, Q2 2026 release), prices across Spain rose 12.2% on a year earlier and 3.4% on the previous quarter. Resale homes rose 12.9% and new homes 7.4%. The Balearic Islands are among the regions with the strongest annual growth. The release includes a region-by-region table for anyone who needs the precise figure.
3. Asking prices: why the advertised number is higher
The Balearic Housing Observatory, set up by the regional government, compared advertised prices with what buyers paid. It found that portal asking prices were more than 38% above real sale prices recorded in ATIB tax data for 2025, and more than 31% above the land registrars' averages (Government of the Balearic Islands, 17 September 2026).
The gap is not proof that every listing is overpriced. Part of it is negotiation. Part of it is composition: homes that sell quickly drop out of the advertised stock, while overpriced homes stay on the portals. In practice, an asking price is the seller's opening position, and recorded prices for comparable homes are what anchors a negotiation.
The same observatory reported that foreign buyers paid an average of €548,662 per home in 2025, against €304,120 for Spanish buyers. It also found that 83.4% of residential energy certificates in the islands are rated E, F or G, which is why a recent, well-insulated home commands a clear premium.
4. Prime Mallorca: a transparent snapshot of our asking prices
Regional averages cover every kind of home, from flats in Inca to clifftop estates, so they say little about the prime market. To give buyers a reference we can stand behind, here is a summary of the 49 homes Balearic Blue is offering for sale on 5 October 2026. These are asking prices, not sale prices, and the sample is our own portfolio rather than the whole market.
| Our current portfolio | Homes | Median asking price | Median asking price per m² |
|---|---|---|---|
| All homes | 49 | €2,600,000 | €8,696 (39 homes with a stated built area) |
| Palma and its neighbourhoods | 31 | €2,200,000 | €8,570 (24 homes) |
| Southwest coast (Calvià and Andratx) | 10 | €4,350,000 | €12,570 (7 homes) |
| Rest of the island | 8 | €3,900,000 | €7,036 (8 homes) |
In our portfolio, 29 homes are offered at €2 million or more, 10 at €5 million or more and 5 under €1 million. The middle half of asking prices per m² runs from €6,000 to €12,188. The southwest coast is where the sea, marinas and international schools add the steepest premium per m². Rural estates offer more land and built space for the money, but with longer drives.
Our median asking price per m² is about twice the Balearic recorded average. That is not a contradiction. Prime homes with sea views, pools, new construction or historic architecture form a distinct segment, and comparing a Son Vida villa with the regional average is like comparing a Mayfair house with the UK average.
How to use these numbers when you buy
- Ask for comparable recorded prices, not just other asking prices. A good adviser can provide land-registry evidence for the street or development.
- Price per m² only works between comparable homes. Terraces, plot size, views, energy rating, licences and condition can move value more than location alone.
- Look at the energy certificate. With most of the island's housing stock rated E to G, a recent A or B rating is a real cost and comfort advantage, and buyers price it in.
- Budget for purchase taxes on top of the price. On a €2.6 million resale they come to €288,000. See our 2026 purchase-costs guide.
- Expect fewer, slower transactions in a market where volumes are falling but prices are not. The best homes still sell quickly, and the rest take longer.
Browse every home in the property catalogue, compare penthouses in Palma, or use our investment calculator to model running costs and returns.
What is the average property price per square metre in Mallorca in 2026?
Land-registry data for the second quarter of 2026 give an average recorded price of €4,311 per m² for the Balearic Islands and €4,291 per m² for Palma. Prime homes are priced far above this. The median asking price across our current portfolio is €8,696 per m².
Are Mallorca property prices still rising?
Yes. The national statistics institute recorded a 12.2% annual rise for Spain in the second quarter of 2026, and the Balearic Islands were among the stronger regions. The number of sales, however, has fallen for two consecutive quarters.
How much do buyers negotiate off the asking price in Mallorca?
There is no fixed discount. The Balearic Housing Observatory found that advertised prices were on average more than 38% above prices actually paid in 2025. Part of that gap is negotiation, and part is overpriced homes that stay on the market. Recorded prices for comparable homes are the best guide.
What share of Mallorca buyers are foreign?
In the second quarter of 2026, foreign buyers made 32.27% of purchases in the Balearic Islands, about twice the Spanish average of 15.98%, according to the land registrars.
Sources checked on 5 October 2026: College of Land Registrars (Q2 2026 housing statistics), INE (housing price index, Q2 2026), Balearic Housing Observatory (Government of the Balearic Islands, 17 September 2026). Balearic Blue figures are asking prices for homes we were offering on 5 October 2026, not completed sales. This article is general information and not an appraisal or investment advice.