The average price of used housing in Palma stands at €5,257 per square metre, 7.1% higher than a year ago, according to idealista. The Balearic capital exceeds the national average by 86%.
Buying a house in Palma is becoming increasingly expensive. The average price of used housing reached €5,257 per square metre in June 2026, a new historical high according to the latest report from the real estate portal idealista. This represents an increase of 1.7% compared to May, 2.7% in the last quarter, and 7.1% year-on-year.
The Balearic capital is well above the national average, which is €2,823/m². The difference is 86%, a gap explained by strong demand, limited supply, and the city's international appeal.
The most expensive and affordable neighbourhoods
Son Vida remains the most exclusive neighbourhood in Palma, with €8,477/m², although its price has fallen by 1.8% year-on-year. It is followed by Portixol-Molinar (€7,589/m², +3%), Ciutat Antigua (€7,170/m², +14.9%), Génova-Bonanova-Sant Agustí (€6,417/m², +1.6%), and Santa Catalina-Son Armadans-Marítim (€6,295/m², +10.6%).
At the opposite end, the most affordable neighbourhoods are Llevant-La Soledat (€3,494/m², +24.4%), Son Oliva-Plaza Toros-Camp Redó (€3,672/m², +6.1%), Rafal-Son Forteza (€3,756/m², +15.5%), Las Avenidas (€4,099/m², +8.9%), and La Vileta-Son Rapinya (€4,222/m², unchanged).
Notably, Llevant-La Soledat has seen a rise of 24.4%, making it the area that has increased the most in the past year. Establiments-Son Sardina also records a significant increase of 16.6%.
The impact on the wallets of Palma residents
For an 80 square metre flat, the average price in Palma is €420,560. In neighbourhoods like Son Vida, that same area would cost €678,160, while in Llevant-La Soledat it would be €279,520. The difference between the most expensive and the cheapest neighbourhood is nearly €400,000.
The upward trend shows no signs of easing for buyers. According to idealista's data, prices have accumulated a rise of 7.1% in the last year, and all signs point to continued growth as demand outstrips supply. Experts indicate that the lack of land and bureaucratic hurdles are hindering the construction of new homes, further tightening the market.
For those who already own a home, the appreciation can be good news. Idealista offers a free tool to calculate the current value of a property, which may have increased significantly in recent months.
"The real estate market in Palma maintains an ever-widening gap compared to the rest of the country," sources from the real estate portal state.
Ciutat Antigua consolidates its position among the most exclusive areas, with a price of €7,170/m² and an annual increase of 14.9%. Meanwhile, Son Vida, although still the most expensive, is one of the few neighbourhoods to record a year-on-year decline (-1.8%).
The complete report from idealista is available on their website, where the evolution by neighbourhoods and historical prices can be consulted.
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