Dalt Vila still has the highest price for secondary housing in the Balearic Islands at 5,000 euros per sq. m. However, it is also the municipality in the entire autonomous community that recorded the biggest price drop in the last year – 7.6%.
These figures from the Fotocasa real estate portal also show that there are five municipalities in the archipelago where the barrier of 4,000 euros per sq. m. is exceeded, and the first three of them are in Ibiza. In addition to Dalt Vila, there is Santa Eulària with 4,388 euros per sq. m. and Sant Josep with 4,123 euros per sq.m. Calvià and Andratx are two other areas where it is most expensive to buy secondary real estate.
The highest growth in Ibiza was recorded in Sant Antoni, with 2.8%, the growth was 0.8% in Dalt Vila, it was the same in Santa Eulària, and it decreased by 1.1% in Sant Josep. When evaluating it for the year, it was in the municipality of Sant Josep that an increase in prices for secondary real estate was recorded by 1.1%.
If the prices in Ibiza go through the roof, they are the lowest in Minorca. Ferreries stands out, where the secondary property is sold at a price of 1,327 euros per sq. m., and Maó with 1,967 euros per sq. m.
In Mallorca, the cheapest properties are located in Inca with 1,552 euros per sq. m. and Manacor with 1,612 euros per sq. m.
Data collected by Idealista for the period from May 2020 to the same month of this year shows an average increase in prices for real estate for sale in Spain by 4%, to 1,805 euros per sq. m. This is a 0.6% increase compared to April of this year and a 1.9% increase over the last three months.
The increased interest in moving, combined with limited supply, especially in places with the highest demand, means that the housing market has endured the pandemic. So much so that three Spanish provinces (the Balearic Islands, Malaga and Madrid) they set record prices in May for all the time of keeping records on the real estate portal.