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This article explains the current housing prices in Palma de Mallorca in 2026, using the latest figures we collected and checked manually.
We update this blog post regularly because Palma de Mallorca property prices can move quickly, especially in popular coastal and central areas.
You will find simple price ranges, neighborhood examples, buying costs, and realistic budget examples for residential property in Palma de Mallorca.
And if you’re planning to buy a property in this place, you may want to download our pack covering the real estate market in Palma de Mallorca.
Insights
- The average housing price in Palma de Mallorca in 2026 is around €520,000, but the median is closer to €380,000 because luxury homes lift the average.
- A practical entry budget for residential property in Palma de Mallorca in 2026 is around €220,000 to €320,000, mostly for smaller existing apartments.
- Asking prices in Palma de Mallorca are usually above final sale prices, so buyers should often expect a 5% to 15% negotiation gap.
- The average asking-price benchmark in Palma de Mallorca is about €5,167 per sqm, but a more realistic transaction-equivalent average is closer to €4,200 per sqm.
- Portixol, Molinar, Son Vida, Santa Catalina, and Ciutat Antigua remain the strongest premium areas in the Palma de Mallorca housing market.
- New-build homes in Palma de Mallorca usually cost 25% to 40% more than similar resale homes because modern supply is limited.
- A buyer in Palma de Mallorca should often add 10% to 15% for taxes and fees, and more if the property needs renovation work.
- A $500,000 budget is enough for a practical mid-market apartment in Palma de Mallorca, but not usually enough for prime seafront property.
- A $100,000 budget is not realistic for a normal residential purchase in Palma de Mallorca in 2026.
What is the average housing price in Palma de Mallorca in 2026?
The median housing price in Palma de Mallorca is often more useful than the average because luxury villas and sea-view homes can make the average look higher than what most buyers actually pay.
We are writing this as of 2026 with the latest data collected from authoritative sources that we manually double checked.
In 2026, the median housing price in Palma de Mallorca is about €380,000, which is about $439,800, and the average housing price in Palma de Mallorca is about €520,000, which is about $601,800.
For about 80% of residential properties in Palma de Mallorca in 2026, a realistic price range is roughly €240,000 to €1,350,000, or about $277,800 to $1,562,400.
A realistic entry range in Palma de Mallorca in 2026 is about €220,000 to €320,000, or about $254,600 to $370,300, for a 45 to 60 sqm existing apartment in areas such as Llevant-La Soledat, Rafal-Son Forteza, or Son Oliva-Camp Redó.
A typical luxury property in Palma de Mallorca in 2026 costs about €1,400,000 to €4,000,000, or about $1,620,200 to $4,629,200, for a renovated apartment, townhouse, or villa in Santa Catalina, Portixol-Molinar, Ciutat Antigua, Génova-Bonanova-Sant Agustí, or Son Vida.
By the way, you will find much more detailed price ranges in our property pack covering the real estate market in Palma de Mallorca.
Are Palma de Mallorca property listing prices close to the actual sale price in 2026?
In Palma de Mallorca in 2026, we estimate that final sale prices are often about 8% to 15% below asking prices, with a practical average discount of around 10%.
This happens because many sellers in Palma de Mallorca list with room to negotiate, especially when foreign demand is strong and supply is tight. The gap is smaller for well-priced homes in Portixol, Santa Catalina, Old Town, and Son Vida, but the gap can be larger for overpriced or unrenovated homes in slower local areas.
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What is the price per sq m or per sq ft for properties in Palma de Mallorca in 2026?
As of 2026, the median transaction-equivalent housing price in Palma de Mallorca is about €3,850 per sqm, or about $4,456 per sqm, which is about €358 per sqft, or about $414 per sqft. The average transaction-equivalent housing price in Palma de Mallorca is about €4,200 per sqm, or about $4,861 per sqm, which is about €390 per sqft, or about $451 per sqft.
The highest prices per sqm in Palma de Mallorca are usually for renovated homes in prime, walkable, or sea-adjacent areas, while the lowest prices per sqm are usually for older apartments that need work in less touristic inland neighborhoods.
In 2026, the highest price per sqm in Palma de Mallorca is usually found in Portixol-Molinar, Son Vida, Ciutat Antigua, and Santa Catalina, often from about €5,600 to more than €9,300 per sqm. The lowest price per sqm is usually found in Llevant-La Soledat, Rafal-Son Forteza, and Son Oliva-Camp Redó, often from about €3,100 to €4,150 per sqm.
How have property prices evolved in Palma de Mallorca?
Compared with one year ago, residential property prices in Palma de Mallorca are up by about 10% in nominal terms. The main reason is simple: demand stayed strong, while the supply of well-located homes remained limited.
Compared with two years ago, Palma de Mallorca housing prices are clearly higher, especially in lifestyle areas such as Santa Catalina, Portixol-Molinar, Ciutat Antigua, and Son Vida. The increase comes from the same pressure: local demand, mainland Spanish demand, foreign buyers, limited land, and high construction costs.
By the way, we’ve written a blog article detailing the latest updates on property price variations in Spain.
Finally, if you want to know whether now is a good time to buy a property there, you can check our pack covering everything there is to know about the housing market in Palma de Mallorca.
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How do prices vary by housing type in Palma de Mallorca in 2026?
In Palma de Mallorca in 2026, apartments and flats make up about 58% of the market, larger apartments and penthouses about 12%, townhouses about 8%, detached houses about 9%, villas about 8%, and new-build homes about 5%, because Palma is a dense city with limited land and a large apartment stock.
As of 2026, a standard apartment in Palma de Mallorca averages about €385,000, or about $445,100, while a larger apartment or penthouse averages about €780,000, or about $902,700. A townhouse is around €850,000, or about $983,700, a detached house is around €1,050,000, or about $1,215,200, a villa is around €2,200,000, or about $2,546,100, and a new-build apartment is around €620,000, or about $717,500.
If you want to know more, you should read our dedicated analyses:
How do property prices compare between existing and new homes in Palma de Mallorca in 2026?
In Palma de Mallorca in 2026, new-build homes usually cost about 25% to 40% more than comparable resale homes, with a practical average premium of around 30%.
This premium exists because new homes in Palma de Mallorca are scarce, and buyers pay more for modern layouts, energy efficiency, lifts, terraces, parking, and fewer immediate repairs.
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How do property prices vary by neighborhood in Palma de Mallorca in 2026?
Santa Catalina and Son Armadans mainly offer renovated apartments, penthouses, and some townhouses, with typical prices around €700,000 to €1,200,000, or about $810,100 to $1,388,800. Prices are high because the area is walkable, international, close to restaurants, and near the marina.
Portixol-Molinar mainly offers sea-adjacent apartments, townhouses, and premium renovated homes, with typical prices around €850,000 to €1,800,000, or about $983,700 to $2,083,100. Prices are high because the seafront lifestyle is rare and the area is close to central Palma de Mallorca.
Génova-Bonanova-Sant Agustí mainly offers apartments, houses, and villas, with typical prices around €750,000 to €1,700,000, or about $868,000 to $1,967,400. Prices are high because buyers get more space, views, access to schools, and good links to Palma and the coast.
You will find a much more detailed analysis by areas in our property pack about Palma de Mallorca. Meanwhile, here is a quick summary table we have made so you can understand how prices change across areas:
| Area in Palma de Mallorca | Market feel | Typical price range | Typical price per sqm | Typical price per sqft |
|---|---|---|---|---|
| Llevant-La Soledat | Entry / value | €230k-€420k / $266k-$486k | €3,090-€3,845 / $3,576-$4,450 | €287-€357 / $332-$413 |
| Son Oliva-Plaza Toros-Camp Redó | Local / value | €250k-€480k / $289k-$556k | €3,298-€4,105 / $3,817-$4,750 | €306-€381 / $354-$441 |
| Rafal-Son Forteza | Budget / local | €240k-€450k / $278k-$521k | €3,324-€4,136 / $3,847-$4,787 | €309-€384 / $357-$444 |
| Las Avenidas | Central / practical | €300k-€600k / $347k-$694k | €3,636-€4,525 / $4,208-$5,237 | €338-€420 / $391-$486 |
| La Vileta-Son Rapinya | Family / suburban | €420k-€850k / $486k-$984k | €3,860-€4,804 / $4,467-$5,559 | €359-€446 / $416-$516 |
| Establiments-Son Sardina | Quiet / semi-rural | €450k-€950k / $521k-$1.10m | €4,028-€5,012 / $4,661-$5,800 | €374-€466 / $433-$539 |
| Playa de Palma | Beach / tourism | €380k-€850k / $440k-$984k | €4,162-€5,179 / $4,816-$5,994 | €387-€481 / $448-$557 |
| Es Fortí-Son Cotoner-Son Dameto | Residential / commute | €370k-€750k / $428k-$868k | €4,240-€5,276 / $4,907-$6,106 | €394-€490 / $456-$567 |
| Son Ferriol-Sant Jordi | Family / outer Palma | €400k-€900k / $463k-$1.04m | €4,463-€5,554 / $5,165-$6,428 | €415-€516 / $480-$597 |
| Santa Catalina-Son Armadans-Marítim | Popular / expat | €600k-€1.3m / $694k-$1.50m | €5,637-€7,015 / $6,523-$8,118 | €524-€652 / $606-$755 |
| Ciutat Antigua | Historic / premium | €650k-€1.6m / $752k-$1.85m | €6,338-€7,887 / $7,335-$9,128 | €589-€733 / $682-$848 |
| Portixol-Molinar | Seafront / prime | €800k-€1.9m / $926k-$2.20m | €6,826-€8,495 / $7,900-$9,831 | €634-€789 / $734-$913 |
How much more do you pay for properties in Palma de Mallorca when you include renovation work, taxes, and fees?
In Palma de Mallorca in 2026, a buyer should usually add about 10% to 15% to the purchase price for a resale home without major renovation, and much more if the home needs work.
For a property bought around $200,000, or about €172,800, the normal buying costs alone can add roughly €17,000 to €22,000, or about $19,700 to $25,500. If the home also needs light work, the total cost can easily move closer to €205,000 to €215,000, or about $237,300 to $248,800.
For a property bought around $500,000, or about €432,000, taxes and fees can add roughly €43,000 to €56,000, or about $49,800 to $64,800. With moderate renovation, a buyer in Palma de Mallorca may end up closer to €505,000 to €530,000 total, or about $584,400 to $613,400.
For a property bought around $1,000,000, or about €864,000, taxes and fees can add roughly €86,000 to €112,000, or about $99,600 to $129,600. With meaningful renovation, the total cash cost can move above €1,050,000, or about $1,215,200.
By the way, we keep updated a blog article detailing the property taxes and fees to factor in the total buying cost in Spain.
Meanwhile, here is a detailed table of the additional expenses you may have to pay when buying a new property in Palma de Mallorca
| Extra cost | Type | Estimated cost range in Palma de Mallorca |
|---|---|---|
| ITP transfer tax on resale property | Tax | Usually 8% to 13% of the purchase price. On a €300,000 resale home, this can be about €24,000 to €39,000, or about $27,800 to $45,100. The rate depends on the price bracket and buyer situation. |
| VAT on new-build residential property | Tax | Usually 10% of the purchase price for new residential property. On a €500,000 new-build home, this means about €50,000, or about $57,900. This is why new-build buying costs can feel high. |
| AJD stamp duty on new-build purchase | Tax | Often around 1% to 1.5% of the purchase price. On a €500,000 new-build home, this can be about €5,000 to €7,500, or about $5,800 to $8,700. This cost is usually added on top of VAT. |
| Notary | Fee | Often around €800 to €2,500, or about $900 to $2,900. The final amount depends on the transaction value and the documents involved. This is a normal cost in Spanish property purchases. |
| Land registry | Fee | Often around €500 to €1,500, or about $600 to $1,700. The registry fee confirms the ownership change. The amount is usually small compared with taxes. |
| Lawyer | Fee | Often around 1% to 1.5% of the purchase price. On a €400,000 home, this can be about €4,000 to €6,000, or about $4,600 to $6,900. A lawyer is especially useful for foreign buyers. |
| Mortgage valuation | Finance fee | Often around €300 to €800, or about $350 to $900. Banks usually need a valuation before approving a mortgage. Cash buyers may not need this cost. |
| Light renovation | Renovation | Often around €400 to €800 per sqm, or about $463 to $926 per sqm. This can cover paint, simple kitchen updates, flooring, and basic repairs. It does not usually cover major structural work. |
| Full renovation | Renovation | Often around €1,000 to €2,500 per sqm, or about $1,157 to $2,893 per sqm. This can include bathrooms, kitchen, wiring, plumbing, flooring, and layout changes. Older Palma apartments can fall into this range. |
| Luxury renovation | Renovation | Often around €2,500 to more than €4,000 per sqm, or about $2,893 to more than $4,629 per sqm. This is common when buyers want high-end finishes, custom work, or premium materials. Luxury villas can go above this range. |
We made this infographic to show you how property prices in Spain compare to other big cities across the region. It breaks down the average price per square meter in city centers, so you can see how cities stack up. It’s an easy way to spot where you might get the best value for your money. We hope you like it.
What properties can you buy in Palma de Mallorca in 2026 with different budgets?
With $100,000, or about €86,400, there is almost no normal residential purchase market in Palma de Mallorca in 2026, so this budget is more realistic as a deposit than as a full purchase price.
With $200,000, or about €172,800, a buyer may find a very small existing studio of 25 to 35 sqm in Llevant-La Soledat, a compact older unit of 30 to 40 sqm in Rafal-Son Forteza, or a highly compromised inland apartment needing work.
With $300,000, or about €259,200, a buyer can look for an existing 45 to 55 sqm apartment in Llevant-La Soledat, an older 40 to 50 sqm apartment in Son Oliva-Camp Redó, or a 45 sqm apartment in Rafal-Son Forteza needing light renovation.
With $500,000, or about €432,000, a buyer can look for an existing 75 to 90 sqm apartment in Son Cotoner or Son Dameto, an 80 to 95 sqm family apartment in La Vileta-Son Rapinya, or a 65 to 75 sqm apartment near Las Avenidas.
With $1,000,000, or about €864,000, a buyer can look for a renovated 85 to 100 sqm apartment in Santa Catalina, a 90 to 110 sqm apartment near Portixol-Molinar, or a 130 to 160 sqm townhouse in Génova-Bonanova-Sant Agustí.
With $2,000,000, or about €1,728,000, a buyer has many high-end options in Palma de Mallorca, such as a premium 120 to 160 sqm apartment in Ciutat Antigua, a sea-adjacent 120 to 150 sqm apartment or townhouse in Portixol-Molinar, or a 220 to 300 sqm villa in Génova-Bonanova-Sant Agustí or lower Son Vida.
If you need a more detailed analysis, we have a blog article detailing what you can buy at different budget levels in Spain.
What sources have we used to write this blog article?
Whether it’s in our blog articles or the market analyses included in our property pack about Palma de Mallorca, we always rely on the strongest methodology we can … and we don’t throw out numbers at random.
We also aim to be fully transparent, so below we’ve listed the authoritative sources we used, and explained how we used them and the methods behind our estimates.
| Source used | Why this source is useful | How we used the source |
|---|---|---|
| Idealista price report, Palma de Mallorca | Idealista is one of Spain’s largest property portals and gives a clear view of asking prices by city and area. | We used Idealista as the main source for live asking prices in Palma de Mallorca. We did not treat Idealista prices as final sale prices. |
| Tinsa, Palma de Mallorca housing values | Tinsa is a major Spanish appraisal company, and banks and analysts often use its valuation work. | We used Tinsa to anchor the article closer to valuation levels. We also used Tinsa to cross-check the annual price growth for Palma de Mallorca. |
| Spanish Ministry of Housing, appraised housing values | This is the official Spanish government source for appraised housing values. | We used this source as a public benchmark for housing valuations. We used the data to avoid confusing asking prices with appraised values. |
| Colegio de Registradores, property statistics | Spanish land registrars record completed property transactions, so the data helps show what happens after homes are sold. | We used this source to understand transaction activity and buyer structure. We used regional evidence when Palma-specific closed-sale detail was not public. |
| Consejo General del Notariado, real housing prices | Spanish notaries record purchase deeds, which makes the source useful for real transaction evidence. | We used the Notariado source as a closed-sale reference point. We used it to keep the article from relying only on listing prices. |
| Agència Tributària de les Illes Balears, transfer tax | ATIB is the Balearic tax agency, so it is the primary source for local property transfer-tax rules. | We used ATIB to explain resale transfer tax in the Balearic Islands. We used the official progressive ITP brackets when estimating buyer costs. |
| European Central Bank, EUR/USD rate | The ECB is the official euro-area source for euro foreign exchange reference rates. | We used €1 = $1.1573 for the dollar conversions in this article. We rounded the dollar values so readers can understand the numbers quickly. |
| INE, Spain CPI | INE is Spain’s official statistics office and is the reference source for national inflation data. | We used INE CPI to compare nominal housing-price growth with inflation-adjusted growth. We used Spain-wide CPI because it is the clean benchmark for the calculation. |
| INE, Spanish official statistics | INE provides official Spanish demographic and economic data that helps explain housing demand. | We used INE as background context for the Spanish and Balearic housing environment. We did not use it to replace local Palma de Mallorca price data. |
| IBESTAT, Balearic Islands statistics | IBESTAT is the official statistics body for the Balearic Islands. | We used IBESTAT as regional context for the Balearic Islands. We used this context to understand why demand pressure in Palma de Mallorca remains strong. |
| Govern de les Illes Balears, housing information | The Balearic government is an official source for local housing policy and housing-market context. | We used this source to understand the local housing-policy environment. We used it as context, not as a price database. |
| Ajuntament de Palma | The city council is the official local source for Palma de Mallorca urban and planning context. | We used city-level context to understand why central supply is limited. We used this to explain why some neighborhoods stay expensive. |
| Sede Electrónica del Catastro | Spain’s cadastre is an official source for property records, surfaces, and cadastral references. | We used cadastral logic as a check on property surface and property-type interpretation. We did not use cadastral values as market prices. |
| Banco de España | Banco de España is Spain’s central bank and publishes important context on credit, interest rates, and housing finance. | We used this source as background for mortgage and financing conditions. We used it to support the buyer-cost context, not to set Palma de Mallorca prices. |
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