KENSINGTON Mallorca / News / Balearic Islands Real Estate Market Report 2021 / 2022

Balearic Islands Real Estate Market Report 2021 / 2022

As we enter 2022, the KENSINGTON research team is analysing developments in the Balearic real estate market. Our aim is to help you assess the current and future market situation in a Mediterranean destination that has been a particular focus for buyers of exclusive first and second homes for decades.
Our analyses are based on two principals: Firstly, empirical data collections from Spanish authorities, statistics offices, valuation companies and real estate portals have been taken into account. Secondly, we have drawn on the expertise of KENSINGTON franchisees on the archipelago to provide a qualified and up-to-date assessment of developments on the micro and sub-markets of the Balearic Islands in particular.

Balearic Islands Real Estate Market Report 2021 / 2022

In our initial step, we describe the significance of the Balearic Islands’ holiday property market in the context of current health and economic developments with current data and facts. Then we examine a total of ten submarkets – in addition to Ibiza & Formentera and Menorca, this includes eight other areas in Mallorca.

Balearic Islands


Balearic Islands


The Balearic Islands are not only one of the most popular holiday destinations in Europe, but they are also among the leading real estate markets in Spain, along with the major metropolitan areas of Madrid and Barcelona. The characteristics top markets such as these include not only great appeal with high price levels but also a distinct resilience in the face of crises, which promises investors value stability. Even during the financial and real estate crisis of 2008 to 2012, we observed that losses in value were smaller in the Balearic Islands than in the rest of Spain. It was in areas like Madrid and the island of Mallorca where the economic engine first started up again in 2014. The current situation shows many parallels: although the health crisis in 2020 caused a clear reluctance to buy on the Balearic Islands for months, also due to travel restrictions, the price level remained stable. Even in the 4th quarter of 2020, the real estate market left this crisis behind. And in 2021, KENSINGTON then experienced a real run-on real estate. Official figures back this up: In the first nine months of 2021, sales of privately financed housing in the Balearic Islands increased by 53% compared to the same period in 2020 (from 7,863 to 12,038). The value of these transactions was already 84% higher – from €2.42 billion to €4.46 billion. (Source: Ministerio de Transportes). The percentage difference between the quantity and monetary value of the transactions can be explained by the fact that properties in the upper price segment are currently particularly sought after. On the Balearic Islands, around 23% of Spanish residential offers are above one million euros. In addition, property prices on the islands tended upwards in 2021. Land, houses, fincas and flats on the Balearic Islands have increased in value every year since 2014. In December 2021, the average asking price for properties was €3,355/m2. That is 8.1% more than in December 2020.

The economic conditions for the Balearic Islands as a destination have also clearly improved. After the Corona shock, the gross domestic product in the Eurozone fell by 6.3% in 2020. If you believe the latest IMF forecasts, 2021 ended with growth of around 5%, and +4.3% is predicted for 2022. Spain is actually one of the countries in Europe that are accelerating this growth. However, there are still uncertainties as the resurgence of the pandemic (Omicron variant) and the pressure of inflation. Cautious optimism is spreading among experts regarding the control of the pandemic. Inflation is likely to continue to fuel prices in the new construction sector in particular, especially as many materials have already become more expensive due to the supply chain problems. Furthermore, building land is already scarce and building on the Balearic Islands is subject to ever stricter regulations. But it is precisely the fears of inflation that are currently a motive to invest in real estate when the European Central Bank is simultaneously adhering to a zero-interest rate policy.

The fact that demand is so high also has to do with changes in the public market and changing lifestyles in the digital age. The pandemic has not only given additional motivation for “remote working” via computer, but has also convinced many to invest in Mediterranean quality of life after experiencing deprivation. The buyers of the 2020s are more mixed and younger than those of the 1990s.

The market has been pushed for years and very consistently by Germans, who form by far the largest buyer group among foreigners (approx. 40%) on the Balearic Islands. In Mallorca, KENSINGTON even notes an increase in German buyers in 2021. It is worth noting that in the Spanish market as a whole, the British have been steadily losing influence since the Brexit decision in 2016. In Q3 2021, for the first time in decades, it was not the British (9.9 % share) but the Germans (10.4 %/source: who were the strongest group among foreign property buyers in Spain.

The top ten locations on the Balearic Islands

Ranking of localities and zones according to average asking prices per square meter in December 2021


Location/Zone Island m2
Es Cubells/Sant Josep Ibiza 8.607 €
Formentera Formentera 7.955 €
Portd’Andratx/Andratx Mallorca 7.420 €
Costa de’en Blanes/Calvià Mallorca 7.155 €
Deià Mallorca 6.331 €
San Joan de Labritija Ibiza 6.134 €
Marina Botafoc – Talamanca/Eivissa Ibiza 6.040 €
Dalt Vila – La Marina/Eivissa Ibiza 5.855 €
Portals-Bendinat/Calvià Mallorca 5.753 €
Calad Vedella, Tarida, Conta/Sant Josep Ibiza 5.703 €


Balearics: Residential real estate transactions 2019 – 2021

Transactions of privately financed housing by purchase in the Balearic Islands

Balearic Islands – Value of transactions

2019                           2020                       2021*
4.148 Bn. €              3.641 Bn. €            5.945 Bn. €

Balearic Islands – Number of transactions

  2019 2020 2021
Balearic (Total) 15.581 11.460 16.059
Mallorca (Total) 12.306 9.001 12.799
Soutwest 1.645 1.108 2.533
Palma + Surroundings 5.116 3.995 5.137
West 257 231 284
North 1.093 741 992
Island Centre 1.066 838 1.071
Northeast 1.421 921 1.248
Southeast 829 465 621
South 879 702 913
Ibiza/Formentera 1.623 1.153 1.631
Menorca 1.652 1.306 1.629

Source: Ministerio de Transportes, * For the 2021 annual value, the 4th quarter 2021 was estimated by KENSINGTON

Photographer: Bree Corn



Formentor / Mallorca

Mallorca (3,640 km2 area) is home to around 70 percent of Balearic holiday properties. And of these, just under half are upscale or luxury properties. KENSINGTON sales in Mallorca increased very significantly in 2021. Compared to 2020, there were over 40% more sales throughout the island. Decisions to buy are currently being made faster and more purposefully.



Southwest of Mallorca

The southwest is Mallorca’s most sought-after region for first and second homes. The municipalities of Andratx and Calvià offer a breath-taking landscape with dreamlike bays and the proximity to the capital Palma. Not only are there many holiday resorts here, but also the most renowned marinas such as Port d’ Andratx, Port Adriano and Portals.

There are also the most exclusive properties here, as well as the largest range of properties outside Palma. In 2021, KENSINGTON achieved exceptional sales success here – the best in 20 years. In the South West in general there was an increase of 54% in transactions compared to 2020 and even great figures from 2018 and 2019 were significantly exceeded (see table). Furthermore, within the last 12 months, prices have increased by around 6 to 9%, depending on the location. Port d’ Andratx again has the highest prices per square metre in Mallorca in 2021 (7,420 euros/average asking price in Dec. 2021). For example, a luxurious and modern new-build villa at Cala Llamp with unique sea views, which will be completed in 2022, is being offered by KENSINGTON for €9.84 million. Villas, however, can cost up to €25 million. As a rule, top villas range from 6 to 16 million euros. In Santa Ponça, top properties are priced at up to €6 million. In Sol de Mallorca, properties are on offer for up to €21 million. At Portals harbour, flats now cost up to €3.5 million. Exclusive living with a sea view, however, is usually available from €800,000 to €1.2 million.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 5 – 25 M 6 M – 25 M
Very good location 1.4 – 6.7 M 1.5 M – 7 M
Good location 700K – 3 M 800K – 4 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 6.700 – 20.000 7.000 – 22.000
Very good location 4.800 – 14.000 5.000 – 15.000
Good location 2.850 – 8.400 3.000 – 10.000


Raimond Osojnik

Franchisee Portals & Santa Ponsa



Sven Binnewies

Franchisee Puerto de Andratx




Showroom Puerto de Andratx

Calle Antoni Calafat Nº 7 07157 Puerto de Andratx
Tel. +34 971 698 924  Fax. +34 971 698 945


Showroom Santa Ponsa

Avda. Rey Jaume I
Nº 109, Local 2 07180 Santa Ponsa
Tel. +34 971 690 421 Fax. +34 971 571 079


Showroom Portals

Carrerera Palma-Andratx, 32 Local 2 07181 Portals Nous
Tel. +34 971680476 Fax. +34 971 677 513


Palma& Surroundings

The property market in Palma has recovered from the pandemic year of 2020. The number of transactions has returned to the level of 2019 with 5,100. Palma remains the place in the Balearics where by far the most properties are brokered. Asking prices at the beginning of 2022 are around 7% higher than December 2020.

The capital of the Balearic Islands is not only one of the most liveable cities in the world with its radiance and variety of offers, but also a magnet for property buyers. It is the most exclusive in the western part of Son Vida, with its posh villas, luxury hotels and golf courses. Here, the average price per square metre is over 5,600 euros and there are villas that cost well over €20 million. Currently, there is even a designer villa with a sea view on offer for €65 million.

Palma’s districts are also among the top locations. Ciutat Antigua/Old Town (Ø €7,500/m2), Portixol-Molinar (Ø €5,950/m2) Santa Catalina (Ø €5,100/m2) and Génova (Ø €7,300/m2). The old town in particular has become even more expensive in 2021 – by 13.1%. A real city palace in the Old Town reaches about €13.5 million. Excellent flats and penthouses start at €1 million. The Génova/Cala Mayor area is interesting because there are good locations with sea views. Offers for most houses and villas in such locations are around 1.4 to 4 million euros. The holiday mile Playa de Palma also increased in price by almost 10 % in 2021, which now results in average asking prices of €3,600/m2. Apartments/penthouses here are priced between €200,000 and €1.3 million. Those looking for very classy properties in the Palma area should also keep an eye on the neighbouring villages such as Puigpunyent or Esporles – mansions here cost €10 to €20 million.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 3.8 – 25 M 4 – 26 M (>65 M)
Very good location 900K – 5.6 M 1 – 6 M
Good location 380K – 920K 400K – 1 M

Apartments: Price range in Euro/m2

  2020 2021
Top location/trophy properties 5.700 – 18.000 6.000 – 18.600 (>42.000)
Very good location 3.800 – 7.550 4.000 – 8.000
Good location 2.600 – 4.250 2.600 – 4.500


Sven Binnewies

Franchisee Palma & Surroundings


Showroom Palma

Calle Conquistador Nº 8 bajo, 07001 Palma de Mallorca
Tel. +34 971 674 306


West Coast


The market in the central area of the Tramuntana mountains on the west coast is small but lovely. Authentic island real estate and picturesque villages characterise the scenery. There are estates of Mallorcan nobility, ancient stone houses, terraced gardens, old villages and the large valley of Sóller with many orange trees, as well as Port de Sóller directly on the sea. Deià, which has a special aura as an artists’ village, stands out – the average price per square metre in the village is among the highest in the Balearics at €6,331/m2. However, there is little for sale in the west and new construction projects are practically non-existent. Around half of the transactions were concentrated in Sóller. In total, around 280 properties changed hands in the west in 2021. Attractive village houses and estates cost up to €13 million, flats up to €800,000. Very good properties are not available for less than €400,000. It is difficult to make serious statements about price trends because the small number of transactions means that the quotas fluctuate considerably every year. At best, the figures for the larger market of Sóller, where there was a moderate decline in asking prices of 8.4 % in 2021, are more reliable (source: In general, the west can be classified as a seller’s market due to the scarcity of supply.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 4.5 – 11 M 5 – 13.5 M
Very good location 2.6 – 5 M 2.6 – 5 M
Good location 760K – 3 M 800K – 3 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 3.750 – 6.000 4.500 – 6.050
Very good location 3.200 – 4.200 3.200 – 4.200
Good location 2.300 – 3.700 2.300 – 3.700


Danieala Gawert

Franchisee Valldemossa


Showroom Valldemossa

Calle de la Venerable Sor Aina Nº1 Local 3, 07170 Valldemossa
Tel. +34 971 616 025



The north of Mallorca

The property market in the northern municipalities between Pollença and Santa Margalida has very different facets. The bay of Alcudia is a conurbation with a lot of tourism and a kilometre-long beach. Pollença offers high-priced villas, large fincas and estates. Pollença has a reputation as a town of artists. Germans aged around 40 to 50 years dominate as buyers and their share has grown even more in 2021.

Sales figures and turnover have increased in 2021 compared to the pandemic year 2020 (about + 33 %). Modern villas near the beach and townhouses are in particular demand. Country properties are rare but in demand.

For country houses, the mix of modern and traditional elements is now particularly popular. Although, it is becoming more difficult to obtain building licences here, also because there is a building freeze in the urbanisations of Alcúdia, for example. In zones such as Port de Pollença, Formentor or Pollença-La Font, many do not sell because they cannot change, and in general there is a trend for owners to hold on to their property.

Exclusive estates with mansions or country houses can reach prices of up to €12 million in the north. Good country houses are not available here for less than €1.1 million.

Villas range from €720,000 to about €9 million. Flats and penthouses in Port de Pollença cost around €220,000 to almost €2 million.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 3.4 – 7 M 3.4 – 9 M
Very good location 2 – 4.5 M 2 – 4.9 M
Good location 660K – 2 M 720K – 2 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 5.000 – 14.000 5.000 – 14.300
Very good location 3.750 – 7.400 3.750 – 7.900
Good location 2.200 – 4.200 2.200 – 4.800

Average prices for country houses in EUR

  2020 2021
Top location/trophy properties 3.6 – 11 M 3.6 – 12 M
Very good location 1.2 – 3.6 M 1.2 – 5.6 M
Good location 900K – 1.5 M 1.1 – 2.5 M


Susanne Rodemann

Franchisee Pollensa


Showroom Pollensa

Via Pollentia 9, 07460 Pollensa
Tel. +34 971 533 323


Centre of the island

From the predominantly flat centre of the island, there is a view of the Sierra de Tramuntana in many places. The mountains protect against cold north winds in winter, and vineyards are cultivated in abundance. Especially fincas and typical Mallorcan village houses are in demand here as first and second homes. The proximity to Palma is particularly desirable. The number of sales in 2021 has reached the level of the pre-Corona era again – about just under 1,100 properties changed hands. Of the 21 municipalities we assign to the area, Alarò and Santa María stand out. The two towns reach the highest price level with an average of about 3,500 and 3,800 €/m2 (asking price). Furthermore, the centre of the island is where you will find the cheapest village houses and flats in Mallorca. As a rule, you should invest at least €350,000 for a good property. Fincas with simpler houses are available from 400,000 euros. But the choice is also very large for large country estates, luxury fincas, manor houses and villas in the centre of the island in the price category from 2.5 to 7.5 million euros. Newly built estates are still available here – KENSINGTON, for example, is currently offering a modern country house on a 50,000 m2 plot near Santa María for €4.5 million.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 1.4 – 2 M 1.4 – 2.1 M
Very good location 900K – 1.4 M 900K – 1.4 M
Good location 550K – 1 M 600K – 1.2 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties >6.800 8,900
Very good location 2.000 – 3.500 2.000 – 3.600
Good location 1.700 – 2.000 1.700 – 2.100

Average prices for country houses in EUR

  2020 2021
Top location/trophy properties 3.3 – 7.5 M 3.2 – 7.5 M
Very good location 1.5 – 3.5 M 1.5 – 3.5 M
Good location 650K – 1.6 M 650K – 1.6 M


Daniel Malek

Franchisee Santa Maria


Showroom Santa Maria

Carrer Bernat de Santa Eugenia, 23 07320 Santa Maria del Cami
Tel. +34 871 716 887


Northeast of Mallorca

Mallorca’s northeast has diverse communities of fans and offers a great variety in real estate. Sporting attractions include four golf courses and Rafael Nadal’s tennis academy in Manacor. Demand has risen sharply compared to 2020. Clients were more decisive and willing to compromise. From the summer onwards, demand even exceeded supply, so that the north-east is currently presenting itself as a seller’s market, which is reflected in the extreme increase in offer prices.

For villa buyers, Costa de los Pinos and Canyamel are top addresses with prices up to €8 million. Mallorcan townhouses were even more in demand in 2021, which can be found above all in Artà. Unrenovated houses can be found from around €300,000. Renovated ones can be expected to cost at least €600,000. Top properties can cost up to €2 million. On the coast, well-known holiday resorts such as Cala Millor, Cala Ratjada or Sa Coma attract visitors. There are also holiday flats in residential complexes, villages or coastal urbanisations. Here, existing properties can be found from 300,000 to 500,000 euros. In new construction projects near the sea, which are very rare, the prices are considerably higher.

Fincas and estates are particularly important in the property market of the north-east. The tightening of the Balearic building code from May 2020 (size of new house construction and pools in rural areas/suelo rústico have been restricted) has had an impact on the finca market. Large stock fincas and plots with “old” projects have sold quickly in 2021 at high prices. Those looking for a top country house property have to invest between 2.5 and 6 million euros. For country houses in good locations, one should expect at least 1.5 million euros.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 1.9 – 7 M 2.2 – 7 M
Very good location 1.3 – 2 M 1.5 – 2.3 M
Good location 750K – 1.4 M 850K – 1.5 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 4.500 – 8.600 5.000 – 10.000
Very good location 3.500 – 5.200 4.000 – 6.000
Good location 1.800 – 4.600 3.000 – 5.000

Average prices for country houses in EUR

  2020 2021
Top location/trophy properties 2.3 – 9 M 3.5 – 9 M
Very good location 1.6 – 3.2 M 1.8 – 3.5 M
Good location 650K – 1.6 M 900K – 2 M


Martina Albrecht

Franchisee Arta


Showroom Arta

Carrer de Ciutat 22 07570 Arta
Mobile. +34 670 275 663


Southeast of Mallorca 

The area around Santanyí and Ses Salines is known for its beautiful calas and picturesque coastal villages. Further away from the beaches, old villages offer tranquillity and a lot of rural charm. There is a large German community, where people tend to be more casual. Golfers, horse fans and connoisseurs of top gastronomy get their money’s worth here. Fincas, townhouses and manor houses in the hinterland are particularly high demand. In terms of the number of property transactions, the south-east is the second smallest sub-market in Mallorca. Compared to 2020, however, sales increased significantly. In addition, prices continue to rise – in the most sought-after area around Santanyì, where the average asking price is now €3,693/m2, up more than 15% year-on-year.

Due to the stricter building legislation since May 2020 and the restrictions due to the pandemic, there is a large demand for large fincas with lots of land but also for modern townhouses with a pool and land. Not only are people looking for a retreat, but also for investment opportunities.

The largest estates and fincas currently on offer usually cost between 1.3 and 8 million euros. Villas are traded from €850,000 to €5.5 million. The higher range for townhouses in Santanyí, is still around the €2.8 million mark. Apartments and terraced houses in complexes are available for €272,000 to €850,000. The best places to look are Colònia Sant Jordi, Cala Figuera, Cala d’Or, Portocolom or Porto Petro. Newly built townhouses with 235 m2 of living space and a pool are on offer in Santanyí from €5,000 to €8,400/m2. In the Compass complex (Cala d’Or), on the other hand, new 2-bedroom flats are available from €272,000. For new terraced houses, Portocolom is recommended with prices from €5,000 to €5,300/m2.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 3.3 – 5.1 M 3.6 – 5.5 M
Very good location 2 – 3.2 M 2.2 – 3.5 M
Good location 780K – 2.1 M 850K – 2.3 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 4.100 – 9.000 4.500 – 9.800
Very good location 3.700 – 5.000 4.000 – 5.400
Good location 2.500 – 4.900 2.600 – 5.200

Average prices for country houses in EUR

  2020 2021
Top location/trophy properties 2.8 – 8 M 3.1 – 8 M
Very good location 1.5 – 2.9 M 1.6 – 3.2 M
Good location 1.2 – 1.5 M 1.3 – 1.6 M


Michaela Lohde-Sauer

Franchisee Santanyi


Showroom Santanyi

Carrer palma 28, 07650 Santanyi
Mobile. +34 670 275 668


South of Mallorca

Llucmajor and Campos form a zone with different faces and a wide range of offers. The traditional village centres of the municipalities are located inland and there are fincas with large agricultural areas. The coast begins in the west in the tourist zone of S’Arenal. Between Son Veri and Cala Pi-Vallgonera there are attractive urbanisations with holiday properties. The quiet area offers views over the sea and/or the Bay of Palma as well as quick access to the capital Palma. Further east, Sa Ràpita is highly sought after with its summer houses and fish restaurants as well as its location near the dream beach Es Trenc. Germans and Britons in particular are interested in the areas.

In the south, the demand and the number of transactions is also increasing significantly again compared to 2020. The average price per square metre of offers has risen by 8.2 % in Llucmajor in 2021 – to €2,730/m2. The most expensive zones are Cala Pi-Vallgonera (€4,250/m2), Cala Blava-Bellavista (€3,788/m2), Maioris-Puig de Ros (€3,600/m2). In S’Arenal, the price per square metre of the offers is now on a par. Flats in Arenal now mostly cost €150,000 to €400,000. However, luxury flats and penthouses up to €800,000 are on offer. Coastal villas in Cala Pi-Vallogonera reach prices of up to €5.4 million. Country houses in Campos range from 400,000 to 4.5 million euros. In Sa Ràpita, the following prices are currently being called: Flats (€190,000-700,000), terraced houses (€290,000-700,000), villas/single houses (€350,000-1.65 million).

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 3 – 10 M 3.2 – 1.8 M
Very good location 1.2 – 3 M 1.3 – 3.2 M
Good location 800K – 1.3 M 850K – 1.4 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 3.400 – 4.900 3.600 – 5.300
Very good location 2.800 – 3.950 3.000 – 4.200
Good location 2.500 – 3.000 2.500 – 3.100


Sven Binnewies

Franchisee Llucmajor


Showroom Llucmajor

Ronda Migjorn Nº 76 07620 Llucmajor
Tel. +34 971 660 731


Ibiza & Formentera

The island group of the Pitiusas with Ibiza and Formentera is not only one of the most exclusive locations for holiday properties in the Balearic Islands, but in the entire Mediterranean region. Ibiza (572 km2 area) became legendary in the 1960s amongst hippies, then developed tourism and a world-renowned party scene with the most famous DJs and big clubs. Most recently, Ibiza Town has also been a hot spot for the super-rich, Hollywood celebrities and football stars. Formentera (83 km2) has benefited from this, but offers a quieter flair with beautiful beaches – real estate is rare and expensive on the small neighbouring island.

The market development in 2021 was very good for KENSINGTON. Sales figures have generally risen again to 2018/2019 levels on the two islands. Ibiza can continue to offer buyers a lot of luxury at high prices and value stability. 2021 saw slight price increases. Given the size restrictions on building, large existing properties are in particular demand and are also being sold. Wealthy Spaniards, Germans and Britons in particular are now investing in these luxury markets.

Eivissa (Ibiza town) remains the epicentre for the noble tourists, posh boutiques and top restaurants Here and in the south/southwest is where the most is paid per square metre. Es Cubells street in Sant Josep is the most expensive location in the Balearics because of its villa prices. The view of the rock Es Vedrà is coveted in this area. Especially in the north, however, you can still find seclusion, nature and properties with a rustic flair.

New construction is dominated by villa projects in private and secured urbanisations at prices from 3 million euros and flat projects from 300,000 euros for one-bedroom flats. Otherwise, the 20 million euros mark the upper limit for villas and country estates. Villas and fincas in Ibiza are not available for less than €1.5 million. If you want a detached house on Formentera, you have to invest 1.5 to 6.5 million euros. The cheapest entry on Ibiza is Sant Antony, where you can get 2-bedroom apartments from around €200,000.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 6.5 – 20 M 6.5 – 20 M
Very good location 3.8 – 7 M 4 – 7 M
Good location 1.4 – 3.85 M 1.5 – 4 M

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 7.000 – 15.000 7.000 – 15.000
Very good location 5.200 – 9.000 5.200 – 9.000
Good location 3.200 – 5.000 3.200 – 5.000

Average prices for country houses in EUR

  2020 2021
Top location/trophy properties 6.6 – 20 M 6.5 – 20 M
Very good location 3.1 – 6.6 M 3 – 6.5 M
Good location 1.4 – 3.1 M 1.5 – 3 M


Noelle Politiek

Franchisee Ibiza


Showroom Santa Eulalia

c/joan Tur Tur 13, bajos Edificio Punta d’en Mayol 07840 Santa Eulalia
Tel. +34 971 863 943



Menorca (695 km2 surface area) has the big attractions, where special emphasis is placed on sustainability and nature conservation, unspoilt landscapes, tranquil natural harbours and secluded beaches The island has been a UNESCO biosphere reserve since 1993, and around 43 percent of its surface area is protected. Menorca has also seen an upturn in demand after the pandemic year of 2020. Similar to 2019, there were over 1,600 purchases of residential properties in 2021. Menorca’s price level is significantly lower than that of Ibiza and Mallorca. The most expensive locations are found around the two largest cities, Ciutadella and Mahón, each with around 29,000 inhabitants. In the best zones, asking prices there range on average between 2,800 and 3,300 euros/m2. This is also where moderate price increases are recorded. In Ciutadella, property prices have been rising continuously since February 2020. From December 2020 to December 2021, there was an increase of 6.8%. The most expensive zone in Ciutadella is Cala Morell with an average of 2,958 euros/m2. Mahón’s rate of price increase is similarly high. Cala LLonga-Sa Mezquida reached a peak average price of almost 3,300 euros/m2.

Many flats in Menorca are between 100,000 and 200,000 euros. Luxury properties in Mahón, however, can reach up to €750,000. In good locations such as Cala Blanca or Cala Morell in the west, individual houses often cost between 350,000 and 900,000 euros. Real trophy properties in imposing locations with sea views can be up to 9.5 million euros. For the large estates typical of Menorca, the upper limit is 7.5 million euros. For luxury chalets and fincas in the price range between 1.5 and 5 million euros, there is definitely a good selection of available properties. The leading buyers on Menorca are French and Spanish, as the British have lost a lot of their influence in the market.

Average prices for villas in EUR

  2020 2021
Top location/trophy properties 4 – 8 M 4 – 9.5 M
Very good location 630K – 3.9 M 650K – 4 M
Good location 290K – 780K 300K – 800K

Average prices for apartments in EUR/m2

  2020 2021
Top location/trophy properties 2.550 – 3.900 2.600 – 4.000
Very good location 1.850 – 2.900 1.900 – 3.000
Good location 1.450 – 2.300 1.500 – 2.400

Average prices for country houses / estates in EUR

  2020 2021
Top location/trophy properties 3 – 9.5 M 3 – 7.5 M
Very good location 660K – 2.9 M 680K – 3 M
Good location 535K – 3 M 550K – 2.2 M


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