A study by the Notarial Statistical Portal reveals that seven of the ten municipalities with the highest average housing prices in the last decade are in the Balearic Islands. Deià, in Mallorca, leads the list with €6,486/m².
The dream of buying a house on the seafront or in the Serra de Tramuntana comes with a dream price. And the data confirms it: Deià has become the most expensive municipality in Spain to acquire a home, with an average price of €6,486 per square metre during the period 2016-2025. This is reflected in the Notarial Statistical Portal, which places seven Balearic towns among the ten most exclusive in the national real estate market.
The ranking, which analyses sustained prices over the last decade, highlights the dominance of the archipelago. Andratx, also in Mallorca, occupies the second position with €5,973/m², followed by Formentera (€5,587/m²) and Sant Josep de sa Talaia, in Ibiza (€4,946/m²). Completing the Balearic top ten are Calvià (€4,695/m²), Santa Eulària des Riu (€4,456/m²) and Eivissa (€4,254/m²).
A limited supply and unstoppable demand
Behind these figures lies a combination of factors that drive prices up. International demand, attracted by the climate and quality of life, collides with a very restricted housing supply, especially in municipalities with landscape protection like Deià. The result is that the average price in these enclaves more than doubles the national average, which hovers around €1,800/m².
For local buyers, the situation is becoming increasingly complicated. An 80-square-metre flat in Deià costs on average more than €518,000, an amount unattainable for most residents. Many opt to look for alternatives in inland municipalities, although prices have also skyrocketed in towns like Inca or Manacor.
“Access to housing is already the main concern for Spaniards, according to the latest CIS barometer,” study sources remind.
San Sebastián and Zarautz, the Basque exceptions
Outside the Balearics, only three municipalities manage to make it into the ranking of the ten most expensive. San Sebastián is the only provincial capital on the list, with an average price of €4,616/m². The city has seen its prices increase by 59.1% in ten years, rising from €3,727/m² in 2016 to €5,928/m² in 2025.
Next is Zarautz, also in Guipúzcoa, with an average of €4,742/m². The only Catalan representative is Cadaqués, in Girona, with €4,305/m². The rest of the top ten, as seen, is a Balearic monopoly that reflects the tourist and residential pressure on the Mallorcan and Ibizan coastlines.
What does this mean for the Mallorcan buyer?
For residents in Mallorca, this data confirms a reality that was already suspected: buying a home on the island is increasingly a luxury. Prices are not only not decreasing, but remain at record levels. The trend, according to experts, points to continued increases as long as the supply of affordable housing does not rise.
Meanwhile, young people and families with average incomes are forced to rent or seek options in municipalities further away from the coast. The figure for Deià, although extreme, is a thermometer of a market that shows no signs of easing.
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