Son Vida
600.000 - 1.370.000 €Indicative guide pricesIt is priced above the municipal asking figure.
DearestFlat over the yearAbove average
443.196
Population
31.3° / 15.2°
Summer peak / Winter day
20.7%
Foreign residents
5.540 €
Avg €/m²
Updated 2026-09-19How we source our data →
Living in Palma de Mallorca
Palma works best for buyers who want Mallorca without giving up city life. It is the island's administrative and transport hub, with year-round neighbourhoods, major public hospitals, rail and metro services, a working port and an airport serving the wider island. The annual population census records 443,196 residents, so this is a substantial urban market rather than a resort that closes down outside summer.
The historic centre and waterfront form only one part of Palma. Residential districts spread around the bay and inland, with very different densities, building types and asking prices. Rail and metro routes favour some corridors, while residents have access to major public hospitals at Son Espases and Son Llàtzer. Buyers should therefore choose the district before assuming that a Palma address guarantees the same daily routine everywhere.
Palma gives buyers the broadest urban services and transport choice on Mallorca, in exchange for higher asking prices, denser surroundings and less private outdoor space than many of the island's smaller towns.
The verdict
Honestly considered, both sides.
The upside is real. So is the downside. Both matter more than any brochure will admit.
The case for
Mallorca's fullest urban life
Palma combines year-round neighbourhoods, public services, shops and workplaces on a scale the island's smaller towns do not offer.
Rail and metro choices
Train services run from Palma towards Inca, sa Pobla and Manacor, while the metro connects the city with the university and ParcBit corridor.
Major public hospitals in the city
Residents have access to Son Espases and Son Llàtzer, with the relevant health sector determined by the address.
Direct off-island connections
The airport and working port make Palma the most practical base on Mallorca for residents who travel frequently.
A wide choice of urban settings
The old centre, waterfront and inland residential districts offer markedly different building types, densities and daily routines.
The case against
High asking prices
Palma's housing market carries a substantial city and island premium, and the municipal average hides large differences between districts.
Less space in central districts
Buyers prioritising walkability and central services often accept denser streets, smaller homes and less private outdoor space.
Transport coverage is uneven
Rail and metro help selected corridors rather than the whole municipality, so some addresses remain bus or car dependent.
Health provision depends on the address
Palma spans more than one health sector, so residents should confirm which hospital and primary-care route applies before relying on proximity alone.
Editor's note
Where you might be better off elsewhere
Palma suits buyers who want Mallorca with the daily range of a proper city. It offers the island's strongest combination of public services, urban neighbourhoods and transport, but it is not the natural choice for buyers seeking quiet streets, larger plots or a small-town rhythm.
Compare Alcúdia for a smaller northern town with beaches and a historic centre, Pollença for an inland old town with access to the north coast, or Sóller for a smaller Tramuntana setting. Buyers open to the mainland should compare Valencia for a larger coastal city without island dependence.
Palma de Mallorca on the map
Lifestyle data
Climate
31.3° / 15.2°
Summer peak / Winter day
J
F
M
A
M
J
J
A
S
O
N
D
Low 9.5°CHigh 25.1°C
- Annual mean
- 16.5°C
- Rain days
- 50.9/yr
station: Palma de Mallorca Aeropuerto (B278), AEMET normals 1981 to 2010
Updated 2026-09-01
Rent
800 €/mo
Median rent, flat
Long-term residential rental, tax-declared
- Typical size
- 85 m²
- Middle half of rents
- 641 € - 995 €/mo
- Median rent, house
- 800 €/mo
Ministry of Housing and Urban Agenda, State Reference System for Housing Rental Prices, tax records, 2024. Based on 31529 declared tenancies
Updated 2026-09-19
Property market
5.540 €
/m²
+5.8% YoY
Updated 2026-09-01
Access
PALMA AIRPORT
Palma de Mallorca · PMI
Community
20.7%
Foreign residents
INE Annual Population Census, nationality basis, 1 January 2025
Palma de Mallorca neighborhoods
Where to live and what to expect at each price point.
Portixol-Molinar
570.000 - 1.300.000 €Indicative guide pricesIt is priced above the municipal asking figure.
CoastalSecond dearestRising fast
Ciutat Antigua
520.000 - 1.190.000 €Indicative guide pricesIt is priced above the municipal asking figure.
Old townRising fastAbove average
Genova - Bonanova - Sant Agusti
450.000 - 1.040.000 €Indicative guide pricesIt is priced above the municipal asking figure.
Above averageSlow riserResidential
Sta Catalina - Son Armadans - Maritim
440.000 - 1.000.000 €Indicative guide pricesIt is priced above the municipal asking figure.
Above averageCentralRising
Playa de Palma
330.000 - 760.000 €Indicative guide pricesIt is priced below the municipal asking figure.
BeachBelow averageSlow riser
Es Forti - Son Cotoner - Son Dameto
320.000 - 730.000 €Indicative guide pricesIt is priced below the municipal asking figure.
Below averageResidentialSlow riser
La Vileta - Son Rapinya
300.000 - 670.000 €Indicative guide pricesIt is priced below the municipal asking figure.
Below averageSlow riserResidential
Establiments - Son Sardina
290.000 - 670.000 €Indicative guide pricesIt is priced below the municipal asking figure.
Below averageOutlyingRising
Las Avenidas
290.000 - 650.000 €Indicative guide pricesIt is priced below the municipal asking figure.
CentralBelow averageRising
Llevant - La Soledat
260.000 - 600.000 €Indicative guide pricesIt is priced below the municipal asking figure, and it is rising faster than the municipality over the year.
Fastest riserCheaperResidential
Son Oliva - Plaza Toros - Camp Redo
260.000 - 600.000 €Indicative guide pricesIt is priced below the municipal asking figure, and it is rising more slowly than the municipality over the year.
CheaperSlow riserCentral
Rafal - Son Forteza
260.000 - 590.000 €Indicative guide pricesIt is priced below the municipal asking figure, and it is rising faster than the municipality over the year.
CheapestRising fastResidential
Palma de Mallorca FAQ
Honest answers to the questions buyers actually ask.
Is Palma a year-round city?+
Yes. It is Mallorca's administrative and commercial centre, with residential neighbourhoods, hospitals, universities, transport and employment that continue beyond the summer season.
Does Palma have trains and a metro?+
Yes. Train services connect Palma with Inca, sa Pobla and Manacor, and the metro serves the university and ParcBit corridor. Coverage is useful but not municipality-wide.
Which public hospital serves Palma?+
Palma is divided between health sectors associated with Son Espases and Son Llàtzer. The correct route depends on the address, so buyers with specific healthcare needs should confirm the assigned centre.
Are asking prices similar across Palma?+
No. The historic centre, waterfront and inland residential districts differ substantially, so the city average should be treated as context rather than a valuation for a particular home.
Is Palma suitable without a car?+
Central districts and homes near rail or metro corridors can support a largely car-light routine. Outer areas need an address-specific check of buses, walking routes and everyday services.
Is there a Mallorca-wide asking-price average?+
The available asking-price series is published for municipalities and the Balearic province, not for Mallorca as a separate island market. Compare the municipality you are considering rather than treating the island as one price zone.
What are the costs of buying property in Palma de Mallorca?+
When buying property in Palma de Mallorca, budget for property transfer tax (ITP) of 8% up to 400.000 € (9% up to 600.000 €, 10% up to 1.000.000 €, 12% up to 3.000.000 €, 13% above that, each band taxed at its own rate, as with income tax), plus roughly 3-4% in notary, land registry and legal fees. Agency commission is usually paid by the seller. On the mainland and the Balearics, new builds pay VAT (IVA) of 10% plus AJD stamp duty instead of ITP. Transfer tax is set by Illes Balears rather than nationally, and reduced rates can apply for main homes and younger buyers.
What are the ongoing costs of owning property in Palma de Mallorca?+
Annual property ownership costs in Palma de Mallorca include IBI (property tax) of 0.4-1.1% of cadastral value, community fees (for apartments), rubbish collection tax (basura), utility bills, and property insurance. Budget approximately 2-4% of property value per year for all running costs. IBI is set by the town hall of Palma de Mallorca within a national band, so it is municipal rather than regional.
What taxes do I pay when selling property in Palma de Mallorca?+
When selling property in Palma de Mallorca, you pay capital gains tax (plusvalía) on the profit at rates of 19-26% depending on the gain amount. Non-residents have 3% of the sale price withheld at completion. You may also pay municipal capital gains tax. Main residence exemptions may apply for residents over 65. Capital gains tax is national, so it is the same in Illes Balears as anywhere in Spain. Plusvalia municipal is set by the town hall of Palma de Mallorca and has had two calculation methods since the 2021 reform, so ask your lawyer which one is cheaper for you.
Can I still get a Golden Visa by buying property in Spain?+
No. Spain withdrew the Golden Visa property investment route in April 2025, so buying in Palma de Mallorca no longer leads to residency. Non-EU buyers who want to live in Spain apply for a separate permit instead, most often the non-lucrative visa (proof of income and private health insurance) or the digital nomad visa (remote work for non-Spanish clients). Ask an immigration lawyer which route fits your situation before you buy.
Transfer tax rates as of August 2026. Rates are set per autonomous community and do change. Confirm the current figures with a Spanish lawyer or tax adviser before you budget.
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