Ibiza’s Santa Eulària Has Led Spain’s Home Values Since 2022, Black Privé Finds

Santa Eulària des Riu has topped Spain’s official home values for 17 quarters, and foreign buyers made 32% of Balearic purchases as the 2025 rules tightened.

LONDON, ENGLAND, UNITED KINGDOM, October 16, 2026 /EINPresswire.com/ — For four years, the highest home values of any large Spanish town have been on Ibiza, according to an analysis of government and land-registry data by luxury property marketplace Black Privé, which opens on the island this month. Santa Eulària des Riu, on Ibiza’s east coast, has had the highest average appraised home value of any Spanish municipality with more than 25,000 people in every quarter since the second quarter of 2022. Its figure has risen from EUR 4,219 to EUR 6,844 per square metre over that time, an increase of 62 percent, and by 13.3 percent in the last year alone. Eivissa, the island’s capital, came third in the second quarter of 2026 at EUR 5,473, just ahead of Madrid.

Much of that market is international. Foreign buyers made 32.27 percent of home purchases in the Balearic Islands in the second quarter of 2026, according to the Colegio de Registradores, Spain’s land registrars. That is the highest share of any Spanish region and about twice the national figure of 15.98 percent. Across Spain, the largest groups of foreign buyers were British, Dutch and German.

The rules for those buyers tightened twice in 2025. Spain ended its golden visa on 3 April 2025, so buying a home no longer brings residency at any price. The Balearic government then barred new tourist places in apartment buildings across the islands. In August, Ibiza’s island council closed tourist letting to every home on rustic land built after 1956, a change it says removes 82 percent of the roughly 7,800 rustic-land homes that could have qualified.

“Buyers look at the price first. On Ibiza the bigger questions are about the house itself: whether it can be let, whether every part of it was licensed, and how the wealth tax will fall,” said Alexander Thornbury, lead property analyst at Black Privé. “Since 2025, a villa’s tourist registration deserves the same scrutiny as its title deeds.”

The numbers, in detail.

Buying. The Balearic transfer tax on a resale home rises in bands from 8 percent to 13 percent, with 13 percent on the part of the price above EUR 2 million. On a EUR 5 million villa that is EUR 600,000, or 12 percent of the price, for residents and non-residents alike. A new home pays 10 percent VAT instead, plus 2 percent stamp duty once the value reaches EUR 1 million.

Owning. The Balearic Islands charge wealth tax in full. A non-resident pays it on Spanish assets above a EUR 700,000 allowance, at rates of up to 3.5 percent: about EUR 53,500 a year on EUR 5 million of net Spanish assets. The same owner in Marbella or Madrid would pay about EUR 22,100, because those regions relieve wealth tax down to the amount of Spain’s solidarity tax on large fortunes. The wealth tax paid is deducted from that solidarity tax, so an Ibiza owner normally owes no solidarity tax on top.

Passing it on. Since July 2023, children, grandchildren, spouses and parents have received a 100 percent regional relief on Balearic inheritance tax. Heirs can use it even when the person who died lived outside Spain, because they apply the rules of the region holding the greatest value of the Spanish assets.

Getting there. Ibiza’s airport handled 9,138,224 passengers in 2025, more than half of them on international routes. The UK was its largest international market, with 1.87 million passengers.

Black Privé’s Ibiza property tax guide sets out every charge from purchase to inheritance, and its guide to buying luxury property in Ibiza covers the market, residency, holiday-let rules and the island’s prime areas, alongside buyer guides for the UK, the Netherlands, Scandinavia, Germany, Belgium and Italy.
The figures above are general information on the 2026 rules, not tax advice.

About Black Privé.

Black Privé is a curated luxury property marketplace serving ultra-high-net-worth buyers across Monaco, Dubai, Marbella, Mallorca, Andorra, Madeira, Ibiza and select international destinations. Properties from EUR 3 million, and from EUR 2 million in Andorra and Madeira. Editorial analysis is led by named, attributable property analysts. Author profile: Alexander Thornbury, alexanderthornbury.com. Thornbury is the author of Quiet Capitals, a guide to property, residency and luxury living in Spain, Andorra and Monaco. Latest revision: October 2026.

Alexander Thornbury
Black Privé
press@blackprive.com
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