Spain Sotheby’s International Realty has expanded its presence in the Balearic Islands with the opening of a new office in central Palma.
The move builds on recent openings in Ibiza and Port d’Andratx and comes ahead of a new Menorca office scheduled for 2026.
The expansion forms part of the firm’s national growth strategy and consolidates its coverage across Mallorca, Ibiza and Menorca.
The company said the Balearics remain a priority location due to sustained international demand and a shortage of high-end housing stock.
LONG-TERM VISION
Sven Odia, Executive Chairman of Spain Sotheby’s International Realty, says: “The Balearic Islands are a strategic territory within our national and international network.
“This expansion not only strengthens our presence, it also reflects our long-term vision: to offer our global clients personalised service and in-depth knowledge of each island.”
The firm reports that luxury property prices in the Balearics have risen by around 10 to 15% annually over the past three years.
Strong demand from overseas buyers and restricted inventory have supported values, particularly in Ibiza, which leads the region in both pricing and growth.
Rodrigo Lozano, Director for the Balearics at Spain Sotheby’s International Realty, says: “The combination of exceptional natural surroundings, safety, air connectivity and quality of life has made the islands a permanent residential destination, not just a holiday one.”
CLEAR OPPORTUNITIES
Lozano says that pricing varies widely across the archipelago: “In Ibiza, the availability of high-end properties is extremely limited, which significantly drives prices up.
“Mallorca maintains strong and diverse demand, while Menorca is consolidating itself as a clear opportunity in terms of value for money: a frontline villa may cost around €4 million, compared with the €15–16 million a similar property could reach in Mallorca or Ibiza.”
International buyers, typically middle-aged professionals with flexible working arrangements, continue to dominate demand. Key markets include the UK, Germany, Switzerland, Austria, France and Italy.
“It is a luxury rooted in experience and wellbeing.”
“The Balearics attract affluent buyers who seek discretion, exclusivity and a close connection to nature rather than ostentation. It is a luxury rooted in experience and wellbeing,” Lozano adds.
The new Balearic network will see offices in Palma, Port d’Andratx, Ibiza and Menorca working in coordination and drawing on Sotheby’s International Realty’s global presence in more than 84 countries.
Lozano says: “Our goal is to position the Balearic Islands as one of the brand’s flagship regions in the Mediterranean, both in transaction volume and in excellence of customer service.”
