Alex Trelinski
PROPERTY sales and prices are continuing to surge in the Balearic Islands with two homes sold on Ibiza last year for record amounts of €50 million each.
The Balearics government said both sales were in the municipality of Sant Joan de Labritja.
The average price of real estate transactions across the islands in 2024 was €360,000 but there was an upturn in sales at premium prices.
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There were more than a hundred transactions exceeding values of €6 million.
Overall, more than €5 billion of business was carried out, covering 13,847 sales.
In Mallorca’s Palma, 21 luxury home deals averaged out at €18.4 million per property.
The most up-market sales on the island were in Calvia, with 30 homes averaging out at €9.8 million each.
Andratx had 12 luxury sales above the €6 million mark, coming in with an average of €10.4 million per deal.
Notary statistics from last year showed that property prices rose faster in the Balearic Islands than in any other region of Spain.
