Santa Eulària des Riu is consolidated as one of the most expensive areas to buy a home in Spain, with an average sale price close to 9,500 euros per square meter, according to a study by the real estate portal Fotocasa. The Ibizan town ranks eighth among the most expensive areas in the country, only surpassed by seven neighborhoods in Madrid.
71% increase in selling prices
The report highlights that Santa Eulària has experienced an increase of 71% in the price of its properties in the last year, which makes it one of the towns with the highest increase at national level. This increase is attributed to its tourist attraction, quality of life and economic dynamism, factors that have boosted demand among buyers with high purchasing power.
In addition to Santa Eulària, in Ibiza other areas with high prices stand out, such as Marina Botafoc (7,945 euros/m²) and Dalt Vila – Figueretes – Playa d’en Bossa, where the square meter exceeds 8,000 euros. In Mallorca, the most exclusive areas are Portals Nous, in Calvià (8,372 euros/m²), and Porto Cristo, in Manacor, which has experienced an increase of 29%.
Balearic Islands, in the national top of real estate prices
The Balearic community, along with Madrid, Basque Country, Catalonia and Andalusia, concentrates the twenty most expensive neighborhoods in Spain, according to the Fotocasa report. In comparison, the average price per square meter in Spain closed 2024 at 2,389 euros, indicating that the cost in Santa Eulària almost quadruples the national average.
The municipality of Sant Antoni de Portmany also recorded a notable growth, with an increase of 15% in the last year, while in Mallorca, Inca and Manacor stand out for their year-on-year increases.
According to María Matos, Director of Studies at Fotocasa, the strong demand for properties in these exclusive areas responds to their attractiveness for national and international buyers with high purchasing power. “The luxury market is still booming and there are areas where an average home already reaches prices close to one million euros,” says the expert.
