Ibiza tops Spain’s second-hand property prices in 2023, as per Fotocasa’s report. A square meter costs €6,403, significantly above the national average of €2,203. Santa Eulària and Sant Josep also rank among Spain’s ten most expensive, at €5,997 and €5,304 respectively. San Sebastian and Zarautz, in Guipúzcoa, exceed €6,000 per square meter. Ibiza’s prices grew 21.3% year-on-year, less than Ciutadella and Manacor in the Balearic Islands. The Balearic Islands, averaging €3,847 per square meter, lead Spain’s regions, surpassing Madrid and the Basque Country. The region’s prices have risen annually since 2015, with a 16.9% increase in 2023. The Canary Islands topped the increase at 22.5%. Nationally, second-hand housing prices are 25% below their 2007 peak, but the Balearic and Canary Islands hit record highs. 2023 saw a 7.4% increase in Spain, with potential price declines forecasted for 2024 in less demanded regions.
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