Ibiza, Mallorca and Marbella are Spain’s three best-known prime markets, and they cost very different amounts to buy into and to hold. Ibiza has the highest official home values of the three. Mallorca shares Ibiza’s Balearic taxes but has a city, a far bigger airport and a German-led buyer base. Marbella, on the mainland, charges a flat 7% transfer tax and much less wealth tax. This guide sets the three side by side for international buyers deciding where to look.
Per m2, Santa Eulària des Riu, Q2 2026
Top Balearic ITP against Andalucía’s flat rate
Costs, tax, access and buyers
Official data throughout
Last updated: October 2026
By: Alexander Thornbury
Which is the most expensive?
Ibiza, on the government’s own figures. The Ministry of Housing publishes the average appraised value of homes in every Spanish town of more than 25,000 people. In the second quarter of 2026, Santa Eulària des Riu on Ibiza topped the whole country at EUR 6,844 per square metre, and it has led every quarter since mid-2022. Calvià, which takes in Mallorca’s south-west coast from Bendinat to Santa Ponsa, came second at EUR 5,502, with Eivissa, Ibiza’s capital, just behind. Marbella stood at EUR 4,528.
These are averages across all housing, so prime villas in each place trade far above them. They still show the order: Ibiza first, Mallorca’s best coast close behind, Marbella some way below. Our guide to Ibiza’s prime areas goes town by town.
| Market (Q2 2026) | Appraised value, EUR/m2 | A year earlier |
|---|---|---|
| Santa Eulària des Riu (Ibiza) | 6,844 | 6,043 |
| Calvià (Mallorca) | 5,502 | 5,107 |
| Eivissa (Ibiza) | 5,473 | 5,328 |
| Marbella | 4,528 | 3,916 |
| Palma (Mallorca) | 3,815 | 3,337 |
Source: Ministry of Housing, average appraised value of free-market homes, municipalities over 25,000 people.
What does each cost in tax to buy?
Ibiza and Mallorca cost the same, and Marbella costs much less. Both islands use the Balearic transfer tax, which rises in bands from 8% to 13% on everything above EUR 2M. Andalucía charges a flat 7% on any resale. On a EUR 5M villa that is EUR 600,000 in the Balearics against EUR 350,000 in Marbella, a gap of EUR 250,000 before you have unpacked.
New builds narrow the gap. VAT is 10% everywhere in Spain; on top, the Balearics charge 2% stamp duty once the value reaches EUR 1M, and Andalucía 1.2%. Our Ibiza property tax guide and our Mallorca tax guide for non-residents work through the Balearic figures, and our guide to buying in Spain covers Marbella.
| Tax (2026) | Ibiza and Mallorca (Balearics) | Marbella (Andalucía) |
|---|---|---|
| Resale transfer tax | 8% to 13% in bands | 7% flat |
| On a EUR 5M resale | EUR 600,000 | EUR 350,000 |
| New build | 10% VAT + 2% stamp duty (from EUR 1M) | 10% VAT + 1.2% stamp duty |
| Wealth tax, non-resident, EUR 5M net Spanish assets | About EUR 53,500 a year | About EUR 22,100 a year |
| Inheritance, children and spouses | 100% regional relief | EUR 1M reduction per heir, then 99% relief |
What does each cost to hold?
The islands again cost more, because of wealth tax. The Balearics charge it in full, so a non-resident pays on Spanish assets above a EUR 700,000 allowance: about EUR 53,500 a year on EUR 5M. Andalucía relieves its wealth tax down to what Spain’s solidarity tax on large fortunes would charge, so the same owner in Marbella pays about EUR 22,100, and nothing at all below roughly EUR 3.7M of net wealth.
The rest is much the same everywhere. Non-resident income tax on a home kept for your own use follows one national rule, and each town hall sets its own IBI on the cadastral value. Letting is where the islands have tightened most: since 2025 the Balearics allow no new tourist places in apartment buildings, and Ibiza allows no tourist lets of homes on rustic land built after 1956. Our Ibiza buying guide explains what to check.
How do inheritance rules compare?
All three are generous to close family, in slightly different ways. In the Balearics, children, grandchildren, spouses and parents have had 100% regional relief since July 2023. In Andalucía each of them gets a EUR 1M reduction, then 99% relief on any tax left, so very large estates can still owe a little. In both regions, heirs can use the regional rules even when the person who died lived outside Spain.
The wider family is where they part. The Balearics give siblings, nephews and nieces 35% or 60% relief since 2025. Which law governs the will itself is a separate question, settled by the EU Succession Regulation: the law of the country where you live at death, unless your will chooses the law of your nationality.
Who buys where?
Foreign buyers dominate both islands and much of the Costa del Sol. They made 32.27% of home purchases in the Balearics in the second quarter of 2026, the highest share of any Spanish region, and 37.01% in Málaga province, which includes Marbella. Mallorca’s international buyers lean German: one large agency, Engel and Völkers, put Germans at 59% of its foreign sales on the island in 2024. Marbella has long been the British base on the Costa del Sol. Ibiza’s mix is broader, with the UK, Italy, Germany and the Netherlands its largest international airport markets.
Access follows size. Palma airport handled 33.8 million passengers in 2025 and Málaga 26.8 million, against 9.1 million for Ibiza. That makes Mallorca and Marbella easier to reach all year from more cities, and Ibiza a more seasonal, more concentrated market. Our Ibiza residency guide covers what living on the island involves.
| Ibiza | Mallorca | Marbella | |
|---|---|---|---|
| Airport passengers, 2025 | 9.1 million | 33.8 million (Palma) | 26.8 million (Málaga) |
| Foreign share of purchases, Q2 2026 | 32.27% (Balearics) | 32.27% (Balearics) | 37.01% (Málaga province) |
| Holiday-let position | Tightest: no new places in flats; none on rustic land after 1956 | No new places in flats (Balearic rule) | Andalucía’s own rules; see our Marbella guides |
Which suits which buyer?
Ibiza suits the buyer who wants the island itself and will pay for it: the highest values, the highest transfer tax and full wealth tax, in return for a small, international market that has kept its lead for four years. Mallorca suits the buyer who wants island life with a real city, more flights and a deeper market, at the same Balearic tax cost. Marbella suits the buyer who wants the lowest cost to buy and hold, on the mainland, with Málaga’s flights an hour’s drive away or less.
Whichever you choose, the price no longer buys residency, since Spain closed its golden visa in April 2025, and the right villa matters more than the right island. Our main Ibiza guide covers everything else on the island.
Key takeaways
- Ibiza has Spain’s highest official home values: EUR 6,844 per m2 in Santa Eulària des Riu, against EUR 5,502 in Calvià and EUR 4,528 in Marbella.
- The islands cost more to buy into: EUR 600,000 transfer tax on a EUR 5M resale, against EUR 350,000 in Marbella.
- And more to hold: about EUR 53,500 a year in wealth tax on EUR 5M, against about EUR 22,100 in Marbella.
- Close family inherit almost tax-free in both regions.
- Mallorca and Marbella are far easier to reach, with 33.8 million and 26.8 million airport passengers against Ibiza’s 9.1 million.
- No property buys residency in Spain since April 2025.
Frequently asked questions
Is Ibiza more expensive than Mallorca?
Yes, on the official figures. Santa Eulària des Riu on Ibiza had an average appraised value of EUR 6,844 per square metre in the second quarter of 2026, against EUR 5,502 in Calvià, Mallorca’s highest-valued large town.
Is Ibiza more expensive than Marbella?
Yes. Marbella’s average appraised value was EUR 4,528 per square metre in the same quarter, and Ibiza’s transfer tax and wealth tax are both higher than Andalucía’s.
Do Ibiza and Mallorca have the same property taxes?
Yes. Both are in the Balearic Islands, so they share the same transfer tax, stamp duty, wealth tax and inheritance rules. Ibiza’s island council sets some extra limits on holiday lets.
How much transfer tax do you pay in Marbella compared with Ibiza?
Andalucía charges a flat 7% on a resale, so EUR 350,000 on a EUR 5M villa. The Balearic scale reaches 13% above EUR 2M, so the same villa on Ibiza costs EUR 600,000.
Is there wealth tax in Marbella?
Andalucía relieves its wealth tax down to the amount of Spain’s solidarity tax on large fortunes. A non-resident with EUR 5M of net Spanish assets pays about EUR 22,100 a year, and nothing below roughly EUR 3.7M.
Which has the best flight connections?
Mallorca. Palma airport handled 33.8 million passengers in 2025, against 26.8 million at Málaga for Marbella and 9.1 million at Ibiza.
Where do German buyers prefer?
Mallorca, on the evidence available. Engel and Völkers put Germans at 59% of its foreign sales on Mallorca in 2024, and Germany is also one of Ibiza’s largest airport markets.
Where do British buyers prefer?
Marbella has long been the British base on the Costa del Sol, and the UK is also Ibiza’s largest international airport market, with 1.87 million passengers in 2025.
Is inheritance tax lower in the Balearics or Andalucía?
For close family both are close to nil. The Balearics give 100% relief; Andalucía gives a EUR 1M reduction per heir and then 99% relief, so very large estates can owe a little there.
Can I let a villa to holidaymakers on all three?
It depends on the property. The Balearics allow no new tourist places in apartment buildings, and Ibiza bars tourist lets of homes on rustic land built after 1956. Andalucía has its own registration rules.
Does buying in any of them give residency?
No. Spain closed its golden visa on 3 April 2025, so property no longer leads to residence anywhere in the country.
Sources
- Ministry of Housing – Average appraised value of free-market homes, municipalities over 25,000 people (table 4)
- BOE – Balearic Legislative Decree 1/2014 (ITP, stamp duty, wealth tax, inheritance relief)
- BOE – Andalucía Law 5/2021 on ceded taxes (7% ITP, 1.2% stamp duty, inheritance reduction and relief, wealth-tax relief)
- Agencia Tributaria – Wealth Tax practical manual 2025 (regional reliefs while the solidarity tax applies)
- BOE – Law 38/2022, article 3 (solidarity tax on large fortunes)
- Colegio de Registradores – Estadística Registral Inmobiliaria, second quarter of 2026
- Aena – Ibiza airport, 2025
- Aena – Málaga-Costa del Sol airport, 2025
- Aena – network traffic statistics, 2025 (Palma)
- Govern de les Illes Balears – Decree-Law 4/2025 on tourism containment
- Consell d’Eivissa – Modification no. 2 of the Ibiza territorial plan (1 August 2025)
Figures current at October 2026. Regional tax rules can change with each budget and should be confirmed with a Spanish tax adviser at the point of purchase.
About the author
Alexander Thornbury is a published author who writes on international property, tax and residency for high-net-worth buyers across Europe. His work focuses on the practical mechanics of cross-border purchase: what a buyer actually pays, owes and signs. More at alexanderthornbury.com.