Santa Eulària with 24.8 euros per square meter remains the most important spain’s location with the most expensive prices for renting, according to the latest report from Idealist. Prices have increased by 5.8 percent compared to February, 4.3 percent year-to-date and up to 8.2 percent compared to March 2024.
Although the annual increase is below the Balearic average (10.8 percent), the total figure for the cost per square meter is 34 percent higher than the average in the islands, where it amounts to 18.5 euros. If the national average price is taken into account (14 euros per square meter), renting in Villa del Río has a 77 percent higher cost.
In the Balearic Islands, rents have increased by 5.1 percent so far this year and by 2.5 percent over the previous month. On the other hand, these data represent a decrease of 6.9 percent with respect to the historical record that occurred in June of last year.
The price grew by 11 percent in Palma during the last twelve months, to stand at 17.3 euros per square meter. The highest year-on-year increase among the municipalities analyzed by Idealista in the Balearic Islands -among which there are no other municipalities in the Pitiüses – occurred in Calvià (17.4 percent), followed by Alcúdia (14.7 percent) and Palma. Port de Pollença, on the other hand, experienced the biggest drop in rents among the markets analyzed: owners are asking 10.4 percent less for renting their homes.
“The rent in Spain is still mortally wounded. The offer is the lowest it has ever been, prices are at historic highs and competition for housing is fierce. Without investors or owners, the market is doomed to disappear. The measures taken by the executive only contribute to worsen the situation. The owner is not the problem, he is the solution and only by protecting him will we protect the tenant and facilitate access to housing,” says in a statement the spokesman for idealista, Francisco Iñareta.
Prices continue to rise
In the first quarter of 2025, the supply and demand dynamics that closed 2024 have continued, keeping prices under pressure. During the winter, prices have risen by 10.3% year-on-year in Spain to reach an annual rate of 14 euros per month, marking a new all-time high. At a quarterly rate, prices rose by 3.5% during the first quarter.
The idealista real estate price index analyzes the offer prices (on square meters built) published by idealista advertisers.
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