Santa Eulària des Riu is home to the two areas with the highest residential property values in Ibiza, according to the latest data from the Balearic Islands Housing Observatory.

Roca Llisa records the island's highest average price per square metre, at €7,978/m², while Can Fornet has the highest average price per property, at €2,979,619.

The figures form part of the new Observatorio de la Vivienda de las Illes Balears (OHIB), presented by the Balearic Government in Ibiza this week.  

Roca Llisa leads the price-per-square-metre ranking

At €7,978 per square metre, Roca Llisa has the highest average residential price per square metre among Ibiza's urban areas included in the Observatory's data.

Cala Vedella follows at €7,749/m², while Ses Torres records €7,321/m².

The rest of the top five are Santa Gertrudis de Fruitera at €7,134/m² and Cala Llenya at €6,677/m².  

Ibiza Town records €5,094/m², while Puig d'en Fita/Siesta stands at €5,087/m².

At the lower end of the ranking, among areas with sufficient statistical representation, Sa Carroca records €3,162/m² and Sant Antoni €4,273/m².  

Four of the five most expensive areas are in Santa Eulària

The concentration in Santa Eulària is particularly notable.

Four of the five most expensive areas by square metre are within the municipality:

• Roca Llisa: €7,978/m²

• Ses Torres: €7,321/m²

• Santa Gertrudis de Fruitera: €7,134/m²

• Cala Llenya: €6,677/m²

Cala Vedella, in Sant Josep de sa Talaia, is the only area in the top five outside Santa Eulària.  

The data therefore shows a strong concentration of high-value residential areas in the municipality, although the figures describe average transaction values and do not mean every property in these areas reaches those prices.

Can Fornet has the highest average price per home

The ranking changes when the measurement is the total average price of each property rather than its value per square metre.

Can Fornet leads at €2,979,619 per home.

It is followed by:

• Ses Torres: €1,855,747

• Jesús: €1,642,552

• Cala Llenya: €1,551,596

• Roca Llisa: €1,252,154

Roca Llisa therefore moves from first place in the €/m² ranking to fifth when properties are compared by their average total transaction price.  

Property size explains part of the difference

The difference between the two rankings is largely linked to property size.

Can Fornet has an average price of €6,370/m², which places it sixth in the €/m² ranking, but the properties recorded there are considerably larger on average than those in Roca Llisa.

That produces a much higher final average transaction value.

The figures demonstrate why comparing Ibiza's luxury property market using only €/m² can give a different picture from comparing the total value of the homes being sold.  

Ibiza Town records a much lower average property value

Ibiza Town sits considerably lower in the ranking for total average property price, at €507,909.

The difference reflects, among other factors, the composition of the municipality's residential stock, which contains a large proportion of apartments and other multi-family homes.

The wider OHIB data shows that Ibiza has 75,519 homes, with 73% classified as multi-family housing. 

Population growth and housing costs

During the presentation of the OHIB data, José Francisco Reynés, director general of Housing and Architecture for the Balearic Government, linked Ibiza's high housing costs to the island's population growth and the resulting pressure on housing supply.

According to IBESTAT data cited by Reynés, Ibiza's population increased substantially between 2000 and 2025. He said 14% of that increase came from natural population growth, while 86% was attributed to net migration.

The migration component cited in the presentation was made up of people from different origins: 34% from other European Union countries, 22% from mainland Spain, 20% from Latin America, 10% from Africa, 9% from non-EU Europe and 5% from other origins. 

Reynés described the relationship between the housing deficit and housing costs as a cause-and-effect relationship. That is his assessment of the data and has been presented as such here rather than as an independently established causal finding.

Ibiza's wider housing market

The OHIB data puts Ibiza's average price for a home or apartment in a multi-family building at €538,479 in 2025, 35.9% above the Balearic average of €396,165.

Across all house and apartment transactions in Ibiza Town, the average sale price was €848,491, compared with €571,136 across the Balearic Islands. 

The island's overall average residential transaction price per square metre was €5,611 in 2025, compared with €3,782 across the Balearic Islands. 

The new figures therefore place Ibiza at the upper end of the Balearic residential market, while also revealing considerable differences between individual municipalities and urban areas.

Two different ways of measuring Ibiza's most expensive homes

The OHIB figures provide a useful distinction when looking at Ibiza's luxury property market.

Roca Llisa is the most expensive area by average price per square metre, while Can Fornet has the highest average transaction price per property.

The difference is largely connected to the size of the homes being sold, demonstrating that a €/m² ranking and a total-property-value ranking measure different aspects of the market.

With four of the five highest €/m² areas located in Santa Eulària des Riu, the municipality occupies a particularly prominent position in Ibiza's high-value residential market according to the latest OHIB data.