Within the group of five municipalities with the housing most expensive homes in Spainaccording to the latest report prepared by the real estate company Engel & Völkers, three are located in the Balearic Islands. In addition, the islands are the autonomous region with the most expensive properties in Spain[]three of which are in the Balearic Islands the price of these properties increased.
In the ranking of the places in the country where it is more expensive to access a residence, two Ibizan municipalities occupy the first two places, with Calvià in fourth place. According to this report, the average value of free housing is in Santa Eulària of 4,783.1 euros per square meter, in Ibiza of 4,332.7 euros and in Calvià, of 4,184.8.
Among these areas, San Sebastián is in third place, with 4,222.6 euros per square meter, and Sant Cugat del Vallès in fifth place, with 4,027.7. Next come, in that order, Sitges, Pozuelo de Alarcón, Madrid, Majalahonda and Barcelona.
The highest increase
In addition to this data, the Balearic Islands is the autonomous region with the highest increase in the cost of its residences over the past year, 9.1%, which is more than double the average rate in Spain, 4.2%.
This places the average price of the islands as a whole at 2,919.9 euros per square meter, a figure that is only surpassed by the 3,008.1 euros of the community of Madrid. As a reference, the average for the country as a whole is 1,812.4 euros per square meter.
One aspect that this report highlights is that 51% of the properties that were put on sale in the islands during 2023 had prices of 500,000 euros at most, 46% moved between that half a million euros and five million, and 3% exceeded the latter amount, reflecting the weight that the high-end market has reached in the Balearics.
For the full article, please visit Diario de Ibiza website here.