Ibiza town loved by the rich and famous breaks all-time record for house prices in Spain

A TOWN on Ibiza has set a new record for Spanish second-hand property prices according to a report from the Fotocasa real estate portal.

Santa Eularia was well ahead of the rest in 2024 with an average price of €8,411 per m2 for a used home.

Ibiza City comes second on €6,986 per m2.

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Two other Ibiza municipalities also make it into top 10, namely Sant Josep de sa Talaia at €5,953 per m2 and Sant Antoni de Portmany just behind on €5,837 per m2.

The biggest year-on-year increase in second-hand homes was in Felanitx(Mallorca) with 45.6%, followed by Santa Eularia on 40.2%.

Sant Antoni de Portmany’s annual price rise was a more modest 28.5%.

The Balaeric Islands in fact had some of the biggest price increases in Spain.

The average price of second-hand housing in the country closed 2024 with an annual increase of 8.4%.

That was the biggest hike recorded in the Fotocasa Real Estate Index since it started 19 years ago.