Property valuations in Mallorca and the Balearic Islands
Gesvalt is a valuation firm accredited by the Bank of Spain which carries out official property valuations in Mallorca, Ibiza, Menorca, Formentera and throughout the autonomous community of the Balearic Islands; these valuations are legally valid for mortgages, property sales, inheritance, divorce or legal proceedings..
Gesvalt has carried out 954 registered valuations in the Balearic Islands, covering all four islands: Mallorca (including Palma de Mallorca and all its municipalities), Ibiza (Eivissa), Menorca and Formentera. The report is delivered within 3 to 5 working days following the site visit, with an indicative price starting at €273 (excluding VAT), depending on the property’s floor area and location.
Property valuation in Mallorca
Mallorca accounts for the highest demand for property valuations in the Balearic Islands and has one of the highest prices per square metre in Spain. According to property market data from Gesvalt, the Balearic Islands top the national ranking for house prices at €3,140 per square metre in the first quarter of 2025, ahead of Madrid and the Basque Country. The property market in Mallorca is driven by a combination of local residential demand and a high number of international buyers and investors, particularly from Germany, the UK, Scandinavia and Switzerland.
The areas with the highest demand in Mallorca are:
Palma de Mallorca: The Old Town, Santa Catalina, Portixol and El Molinar are the most sought-after neighbourhoods in the capital, with property valuations among the highest on the island. Son Sardina and Establiments offer a quieter residential area in the north-west.
- Calvià and Port d’Andratx: Premium area in the south-west of the island. Port d’Andratx is home to some of the island’s most high-value property transactions, with prices per square metre among the highest in Spain.
Sóller and Deià: Towns in the Serra de Tramuntana (a UNESCO World Heritage Site), which are highly sought after by international buyers drawn to the natural surroundings and traditional Mallorcan architecture.
Pollença and Alcudia: The north of the island, where there is high demand for second homes from both domestic and international buyers.
Gesvalt carries out valuations of all types of property on the Mallorcan market: flats in Palma, villas and detached houses in coastal areas, rural properties in the interior, and village houses in the Serra de Tramuntana.
Property valuation in Mallorca
Palma de Mallorca is the capital of the Balearic Islands and the most active residential property market in the autonomous community. The city combines strong local demand with growing interest from domestic and international buyers, which has led to a steady rise in property valuations in recent years. The neighbourhoods in Palma with the highest demand are:
The Old Town and El Arenal: Palma’s historic centre is home to high-value properties, including restored historic buildings, and commands a premium. Valuation figures reflect the scarcity of supply and the property’s central location.
Saint Catherine: A neighbourhood with a bohemian feel and high demand, undergoing extensive regeneration. It is one of the most sought-after areas amongst young and international buyers.
Portixol and El Molinar: Coastal neighbourhoods in the east of Palma are in high demand due to their proximity to the sea. Valuation figures are particularly high for properties with views of the bay.
They are Armadans and Genoa: Residential neighbourhoods in the hills to the west of Palma, with a high concentration of high-quality detached houses and villas.
Property valuation in Ibiza
Ibiza (Eivissa) boasts the most exclusive property market in the Balearic Islands, with a very high concentration of international investors and a demand for luxury property that results in some of the highest property valuations in Spain. It is estimated that between 60% and 70% of the property market in Ibiza is dominated by foreign buyers.
The most sought-after areas in Ibiza are:
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Botafoch and Talamanca Marinas: Opposite the port of Eivissa, there is a high concentration of luxury properties with sea views and exceptional valuation figures.
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Sant Josep de sa Talaia: A municipality in the south-west of the island, comprising areas such as Cala Tarida, Es Cubells and Sant Josep, with luxury villas and properties that are among the most highly valued on the island.
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Santa Eulària des Riu: An area characterised by family-oriented residents and high demand for international second homes, with a more stable market than the more exclusive areas.
The Ibiza property market requires specific valuation methodologies: due to the scarcity of comparable transactions in certain areas and for certain types of luxury properties, the valuer must apply the comparative method with particular rigour, using data from recent transactions in the local and international markets.
Property valuation in Menorca
Menorca offers a more balanced and affordable property market than Mallorca and Ibiza, with buyers who value quality of life, nature and tranquillity. The island, designated a UNESCO Biosphere Reserve, has seen growing interest from domestic and international buyers in recent years.
The most popular towns and areas in Menorca are:
Mahón (Maó): The island’s capital, with its distinctive natural harbour, is the centre of most of Menorca’s property market activity. Properties in the historic centre and those with views of the harbour are the most sought-after.
Ciutadella: Menorca’s former capital has a very well-preserved historic centre and is in high demand amongst domestic buyers looking for charming properties.
Alaior and Es Mercadal: Inland towns with a more laid-back atmosphere and more affordable prices than coastal towns.
Key tax figure — Menorca: In Menorca, the threshold for qualifying for the reduced rate of property transfer tax (2%) is €270,151.20, which is lower than in Mallorca (€307,089) and in Ibiza and Formentera (€378,212). The official valuation report is the document that certifies the value of the property to the Balearic Islands Tax Agency.
Property valuation in Formentera
Formentera is the most exclusive property market in the Balearic Islands, with the lowest supply. The island, which is small in size and subject to highly restrictive planning regulations that limit new building, sees high demand for luxury second homes, with prices per square metre among the highest in Spain.
The scarcity of properties on the market and the low number of annual transactions mean that property valuation in Formentera requires specialist knowledge of the local market. The comparative method requires data on recent transactions on the island itself, as extrapolation from other markets is not directly applicable due to the unique characteristics of the Formentera market.
Differential tax data — Formentera: In Formentera, as in Ibiza, the threshold for qualifying for the reduced ITP rate (2%) is €378,212, the highest in the Balearic Islands. This reflects the higher price levels in the property markets on these two islands.
Is your property in Formentera? Gesvalt’s valuer will organise the site visit and handle the specific documentation required for the Formentera property market. Request a no-obligation quote.
When do you need to have a property valued in Mallorca or the Balearic Islands?
The property market in the Balearic Islands gives rise to specific situations in which the official valuation is particularly important:
Mortgage application: Financial institutions require a valuation approved by the Bank of Spain in order to grant financing. This also applies when the buyer is a foreign national and requires a Spanish mortgage.
Buying and selling a property: Knowing the true value of a property is particularly important in the Balearic Islands, where prices per square metre are the highest in Spain and there are very significant differences between islands, areas and property types.
Inheritance and succession: The valuation report is the technical document used to distribute assets and calculate Inheritance and Gift Tax in the Balearic Islands, both for residents and for foreign heirs with assets on the islands.
Separation or divorce: The official valuation serves as the objective basis for the division of assets where there is jointly owned property on the islands.
ITP in the Balearic Islands (tax relief by island): In the Balearic Islands, the ITP has reduced rates of 2%, which depend on the value of the property and vary by island. The official valuation may be a decisive factor in qualifying for these tax reliefs:
Mallorca: Reduced rate of 2% up to €307,089
Ibiza and Formentera: Reduced rate of 2% up to €378,212
Menorca: Reduced rate of 2% up to €270,151.20
General type: 8% (second-hand sales, all islands)
(The reduced rate applies to young people under the age of 36 and large families purchasing their main residence. Note: Please check the details with a tax adviser before proceeding).
Legal or tax matters: The certified report is an official document recognised by the Balearic Islands Tax Authority, the Land Registry and the courts on the islands.
What is the process for a property valuation in the Balearic Islands? (7 steps)
The process is standardised and transparent across all four islands:
1. Request for a valuation
Via the online form or by telephone.
The island, the local authority, the type of property and its intended use are specified.
2. Submission of documentation
A simple land registry extract, descriptive and graphical cadastral information, and an energy performance certificate (EPC) are required.. For rural properties in Mallorca or Menorca, additional documentation may be required.
3. Acceptance of the quotation
Once the order has been confirmed, the processing of the file begins.
4. Visit by the valuation expert
A certified valuer inspects the property within the first 24–48 hours of the quote being accepted. In Formentera and areas that are difficult to access, the visit may take longer due to travel logistics.
5. Analysis and assessment
The valuer compares the property with similar ones in the same area and applies the established methods: market comparison, replacement cost and income capitalisation. The valuation may differ from the perceived market value, as it is governed by the technical criteria set out in Order ECO/805/2003.
6. Preparation of the report
The official report is drawn up in accordance with Order ECO/805/2003 and the requirements of the Bank of Spain.
7. Submission of the valuation
The approved report is delivered in digital format within 3 to 5 working days following the site visit and once all the documentation has been received in full.
Deadlines and delivery of the valuation in the Balearic Islands
| Appearance | Details |
|---|---|
| Viewing the property | This is usually arranged within the first 24–48 hours of accepting the quote |
| Submission of the report | Between 3 and 5 working days after the visit and receipt of all the documentation |
| Usual time | Most reports are submitted within a week of the visit |
| Legal validity | Valid for 6 months from the date of issue at any bank |
| Note: smaller islands | In Formentera and areas that are difficult to access, the time allowed for the visit may be extended to allow for travel |
Cost of a property valuation in Mallorca and the Balearic Islands
| Typology | Price |
|---|---|
| hasta 50 m² | desde 273 € |
| de 51 a 100 m² | desde 297,50 € |
El precio final de la tasación puede variar en función de la superficie, ubicación y características del inmueble. Consulta tu presupuesto personalizado online. Tarifas vigentes desde agosto 2026.
What is included in the valuation fee?
The price includes a visit by a certified valuation expert, a comparative market analysis, the preparation of the official report in accordance with the Bank of Spain’s regulations, and delivery in digital format. The report is legally valid for 6 months and is accepted by any Spanish bank. The valuation fee also includes the valuation of the garage and storage room.
Documents required to have your property valued in the Balearic Islands
For any type of property valuation in the Balearic Islands, regardless of the island, the municipality or the purpose, the following is required:
- Simple Land Registry Extract (issued within the last 3 months): confirms the ownership, encumbrances and legal status of the property.
- Descriptive and graphical land registry information: area, location, cadastral reference and plan of the property.
- Energy Performance Certificate (EPC): provides information on the property’s energy efficiency in accordance with current regulations.
For further details on the documentation required for mortgage valuations, please see our Guide to the documents required for the valuation.
Additional documentation depending on the type of property
| Type of property | Additional documentation |
|---|---|
| Rented property | Current tenancy agreement and latest rent receipt |
| In progress | Approved plans, planning documentation, quotation and building permit |
| Under construction | Approved project, planning permission, project management certification and contract |
| Social housing | Final assessment report |
| Commercial premises / business premises | Accounting documents, business licence, plans and CEE |
| Country property (Mallorca/Menorca) | Land registry extract, cadastral register, EEC certificate, irrigation rights and community regulations (where applicable) |
Types of property valuation: which one you need depending on your circumstances
The type of report, the necessary documentation and the deadline vary depending on the purpose. In the Balearic Islands, valuations for second homes and mortgage valuations for international buyers are particularly common:
| Type | What is it for? | Standard documentation | Deadline |
|---|---|---|---|
| Mortgage | Apply for a mortgage or finance | Land registry extract, cadastral register, CEE | 5 working days |
| Buying and selling | Understanding the true market value | Land registry extract, up-to-date cadastral record | 5 working days |
| Inheritances: | Division of assets and calculation of taxes | Land Registry and Cadastral documents | 5 working days |
| Divorce/separation | Valuation for the division of assets | Land registry extract, cadastral record, legal document | 5 working days |
| Rented property | Valuing a property with a current tenancy agreement | Tenancy agreement and latest rent receipt | 5 working days |
| Social housing | Valuation of social housing | Final assessment report | 5 working days |
| In progress | Developments not yet built | Approved plans, planning permission, quotation | 5 working days |
| Under construction | Value during the execution of the works | Project, licence, certifications | 5 working days |
| Commercial premises | Sale, hire or finance | Plans, planning permission and planning documents | 7 working days |
| Country estates | Standard land valuation in Mallorca and Menorca | Technical document, irrigation rights and statutes | 10 working days |
If you have a mortgage, please see our approved mortgage valuation website (ECO 805).
Factors affecting property prices in Mallorca and the Balearic Islands
The Balearic Islands top the national property price rankings according to Gesvalt’s property market data: €3,140 per square metre in the first quarter of 2025, ahead of Madrid (€2,835 per square metre) and the Basque Country. This position reflects a combination of unique factors:
- International demand: Buyers from Germany, the UK, Scandinavia and Switzerland account for a significant proportion of property transactions in Mallorca and Ibiza, particularly in the luxury segment. This sustained demand is driving up prices in exclusive areas.
- Shortage of supply: Town and country planning regulations on the islands restrict new building, particularly on rural land and in specially protected areas. This restriction keeps upward pressure on valuation figures.
- Distance from the sea and views: In the Balearic Islands, proximity to the coast and sea views are key factors determining property value. The difference in value between properties with and without sea views in the same area can be very significant.
- Property type: Country properties and villas in the interior of Mallorca, flats in Palma, luxury villas in Ibiza and village houses in Menorca have specific valuation methods and distinct comparable markets.
- Serra de Tramuntana (Mallorca, UNESCO World Heritage Site): Properties in the area around the Serra de Tramuntana —Sóller, Deià, Valldemossa— are subject to building and renovation restrictions which limit the supply of properties and may affect their valuation.
- Energy efficiency: Energy efficiency ratings A and B are particularly highly valued in a market where international buyers demand high quality standards. The CEE has been a regulatory factor of growing importance since Order ECM/599/2025.
To access the latest data on the Balearic Islands’ property market, please see our property market reports.
Why choose Gesvalt to value your property in Mallorca or the Balearic Islands?
Approval by the Bank of Spain
Gesvalt is registered in the Bank of Spain’s Official Register of Valuation Companies under entity number 4455. Only accredited companies may issue valuations that are legally valid for mortgages.
Over 30 years’ experience and more than 75,000 valuations a year
With over 250 experts on staff and more than 800 field technicians, Gesvalt has carried out 954 registered valuations across the four Balearic Islands, demonstrating an active presence and in-depth knowledge of the Balearic market, including the luxury and international segments.
Coverage across the four islands
Gesvalt carries out official valuations in Mallorca (including Palma de Mallorca), Ibiza, Menorca and Formentera, with valuers specialising in the Balearic property market and the valuation of high-end properties.
A rigorous process in accordance with the regulations
All our reports are drawn up in accordance with Order ECO/805/2003 on property valuation rules and the International Valuation Standards (IVS), ensuring their validity for any bank, public body or legal proceedings.
ISO 9001:2015 certification
Our quality management system is certified, with audited processes and continuous improvement at every valuation.
Member of the Spanish Association of Value Analysis (AEV)
Commitment to professional standards in the valuation sector in Spain.
SIGMAR’s own tool
Gesvalt has its own property market analysis system. To view the latest market data for the Balearic Islands, go to property market reports.
Property valuations by city
Gesvalt has its own offices and branches in Spain’s major cities. Check the specific terms and prices for your area:
Balearic Islands
Seville
Zaragoza
Barcelona
Madrid
Malaga
Grenada
Cantabria
Murcia
Alicante
Valencia
Customer reviews
"Over 75,000 valuations a year – an organisation accredited by the Bank of Spain".
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Frequently asked questions about property valuations in Mallorca and the Balearic Islands
What is a property valuation in Mallorca?
What is a property valuation in Mallorca?
This is a technical valuation of a property situated in Mallorca or on any of the Balearic Islands, carried out by a professional valuer. When issued by a company approved by the Bank of Spain, it is officially recognised for mortgages, property sales, inheritance or legal proceedings.
How much does it cost to have a property valued in Mallorca or the Balearic Islands?
How much does it cost to have a property valued in Mallorca or the Balearic Islands?
The indicative price starts at €275 (excluding VAT and without applying the 25% discount) for the Basic tariff, and can go up to €514 for the Premium T5 tariff. The final amount depends on the floor area and the location of the property
Can a property in Ibiza, Menorca or Formentera be valued?
Can a property in Ibiza, Menorca or Formentera be valued?
Yes. Gesvalt carries out official property valuations across the four Balearic Islands: Mallorca, Ibiza, Menorca and Formentera. The coverage includes the urban centres, coastal areas and rural areas of each island. In Formentera, the duration of the visit may be extended due to travel arrangements.
How long does a property valuation take in the Balearic Islands?
How long does a property valuation take in the Balearic Islands?
The report is delivered within 3 to 5 working days following the site visit and upon receipt of all the documentation. Viewings of the property are usually arranged within the first 24–48 hours of accepting the quote. In Formentera or areas that are difficult to access, the time taken for the visit may vary depending on travel logistics.
Does the valuation affect the property transfer tax (ITP) in the Balearic Islands?
Does the valuation affect the property transfer tax (ITP) in the Balearic Islands?
Yes. In the Balearic Islands, the ITP has reduced rates of 2%, which depend on the value of the property and vary by island. In Mallorca, the threshold for eligibility for the tax relief is €307,089; in Ibiza and Formentera, it is €378,212; and in Menorca, it is €270,151.20. The reduced rate applies to young people under the age of 36 and large families. The official valuation is the document that certifies the value of the property to the Balearic Islands Tax Agency. It is recommended that you check the latest information with a tax adviser before proceeding.
ITP: what is the transfer tax and how does it affect property?
What factors influence the value of a property in Mallorca?
What factors influence the value of a property in Mallorca?
Factors that influence this include location (Palma and its neighbourhoods, Calvià, Port d’Andratx, Sóller, Deià, Pollença, Alcudia), the built-up and usable floor area, distance from the sea and views, the condition of the property, the quality of construction and energy efficiency. The Balearic Islands top the national property price rankings (€3,140 per square metre in the first quarter of 2025, according to data from Gesvalt), driven by international demand and a shortage of supply.
House prices and the Balearic Islands’ leading position in the national market
How reliable is a property valuation in the Balearic Islands?
How reliable is a property valuation in the Balearic Islands?
Valuations issued by a firm accredited by the Bank of Spain are legally valid for six months from the date of issue and are accepted by any Spanish bank.
Who is authorised to carry out an official property valuation in the Balearic Islands?
Who is authorised to carry out an official property valuation in the Balearic Islands?
Only a valuation firm approved by the Bank of Spain may issue official valuations that are legally valid. Gesvalt is an accredited valuation firm (no. 4455) with 954 registered valuations in the Balearic Islands, covering Mallorca, Ibiza, Menorca and Formentera.
How can I request a valuation from Gesvalt in the Balearic Islands?
How can I request a valuation from Gesvalt in the Balearic Islands?
You can apply using the form on this page, by telephone or via any of Gesvalt’s customer service channels, stating the island, the type of property and the purpose of the valuation.