Balearic Islands · INE IPVA · May 2024
Rent map of the Balearic Islands:
Inca pricier than Ibiza
24 municipalities analysed across Mallorca, Menorca, Ibiza and Formentera. All rising. The most revealing: Inca, capital of Mallorca's interior, is the most expensive municipality across all the islands — at €834/month.
24
municipalities
834€
maximum (Inca)
+3,2%
avg rise 2022→23
The surprise is the interior: Inca (€834) beats Palma (€819), Ibiza (€803) and all coastal tourist municipalities. Santanyí records the highest rise (+4.0%), followed by Felanitx (+3.8%) and Campos (+3.9%). None of the 24 municipalities fell in price in 2023.
All 24 municipalities, ranked by price
| # | Municipality | Rent/month |
|---|---|---|
| 1 | Inca | 834€ |
| 2 | Palma | 819€ |
| 3 | Andratx | 816€ |
| 4 | Maó | 813€ |
| 5 | Felanitx | 807€ |
| 6 | Llucmajor | 804€ |
| 7 | Eivissa | 803€ |
| 8 | Manacor | 803€ |
| 9 | Capdepera | 801€ |
| 10 | Santa Eulària des Riu | 800€ |
| 11 | Sant Antoni de Portmany | 799€ |
| 12 | Calvià | 798€ |
| 13 | Campos | 797€ |
| 14 | Sant Josep de sa Talaia | 794€ |
| 15 | Marratxí | 793€ |
| 16 | Sóller | 789€ |
| 17 | Ciutadella de Menorca | 782€ |
| 18 | Sa Pobla | 777€ |
| 19 | Alcúdia | 770€ |
| 20 | Santa Margalida | 768€ |
| 21 | Santanyí | 767€ |
| 22 | Pollença | 755€ |
| 23 | Formentera | 754€ |
| 24 | Son Servera | 753€ |
Analysis
The Balearic Islands have consolidated an unprecedented dynamic: rental market pressure has shifted from tourist destinations to the interior. Inca, capital of Mallorca's Part Forana, is the clearest case: an industrial and commercial municipality that, without beaches or resorts, trades above Palma and Ibiza.
The pace of increase (+3.2% average) doubles the general inflation of the period. Santanyí (+4.0%), Felanitx (+3.8%) and Campos (+3.9%) lead the rises — three municipalities in the interior and south of Mallorca, away from tourist concentration zones.
Formentera (€754, +2.4%) has the most moderate rise, probably due to market saturation and a smaller permanent resident base. Menorca shows two municipalities in similar ranges: Maó (€813) and Ciutadella de Menorca (€782).
Methodology
Rent data comes from the INE's Housing Rent Price Index (IPVA), base 2015=100. The estimated price in €/month is obtained by applying the index to the 2015 provincial reference price. The annual change corresponds to the 2022→2023 variation. 2023 data is the most recent published by INE. The IPVA index is published with approximately 18 months' lag from the reference year.
How to cite
UrbanStatsLab (2024). "Rent map of the Balearic Islands 2023: Inca pricier than Ibiza". INE IPVA data. urbanstatslab.com