North Mallorca has spent years building its reputation quietly. While the southwest holds the island’s densest concentration of luxury infrastructure, Pollensa, Puerto Pollensa, Alcúdia and the Formentor peninsula draw a different kind of buyer — someone after character, a slower pace of life and, increasingly, better value per square metre — according to a detailed 2026 market breakdown from Balearic Properties.
Two Different Price Measures — and Why That Matters
The report separates two figures that often get blended misleadingly: the asking price (what sellers list for) and the registered sale price (what the Land Registry records once a deal closes).
- Asking prices: Pollensa municipality averaged €5,271/m² in March 2026, up 7.3% since July 2025 — close to the Balearic-wide asking average of €5,236/m², a figure that blends the pricier southwest with cheaper inland municipalities.
- Registered sale prices: Per Colegio de Registradores data (reported by Última Hora), the Balearic average hit €4,311/m² in Q2 2026, up 3.3% quarter-on-quarter — even as transactions fell 13.1% year-on-year.
The pattern holds across both measures: fewer sales, but prices climbing or holding firm. International demand stays strong while new supply barely grows — planning permission for new builds now takes three to four years in some municipalities. The Balearics remain Spain’s second most expensive region per square metre, trailing only Madrid, and account for roughly a third of all foreign-buyer purchases nationwide.
Area-by-Area Breakdown
| Area | Property Type | What Sets It Apart |
|---|---|---|
| Pollensa town | Village houses, townhouses | Working, year-round town life |
| La Font | Mid-sized villa plots | Walking distance to Pollensa centre |
| Gotmar | High-end villas | Established development, Tramuntana/bay views |
| Puerto Pollensa | Apartments & villas by the sea | Constant, not just seasonal, demand |
| Llenaire | Villas near Llenaire beach | Partial sea views, short drive to centre |
| Formentor | Historic fincas, large-plot villas | Near-zero supply, permanently protected land |
| Alcúdia / Puerto Alcúdia | Family villas, apartments | Walled old town, long beaches |
| Bonaire | New-build villas | Contemporary design, privacy |
Formentor: The Extreme Case
Formentor deserves special mention. Much of the peninsula falls under land protected by the Consell de Mallorca, which permanently rules out new construction. What little comes to market is almost always a historic finca or large-plot villa with direct sea access — and transaction volume is too thin to calculate a reliable average price at all. Anyone quoted a “typical” Formentor price should treat it with real skepticism.
The Holiday Rental Squeeze
For buyers eyeing seasonal letting income, the report flags a tightening supply of holiday rental (ETV) licences. Active licences in Alcúdia fell 11.1% year-on-year to November 2025, and new licence availability across most of north Mallorca is restricted by municipal and regional rules. A property that already holds a valid, transferable licence carries a meaningful edge over one that doesn’t — worth verifying case-by-case before buying with rental income in mind.
Who’s Buying
- Germans: the most active foreign buyer nationality across the Balearics overall — 39.1% of all foreign purchases in the past 12 months
- British buyers: a long-standing presence in Pollensa and Puerto Pollensa, often frequent-use second-home owners
- Scandinavians: concentrated in Alcúdia and Puerto Alcúdia, drawn by flat terrain and family beaches
- Americans: still a minority, but enquiries have been rising through 2026
Foreign buyers overall accounted for 29.6% of all Balearic transactions over the past year.
The Bottom Line
The data supports a market of limited supply and sustained demand — though it stops short of confirming or ruling out bubble conditions, which would require deeper analysis of income and financing trends. What’s clear: Pollensa asking prices are up 7.3% in under a year, Balearic-wide sale prices keep climbing even as transaction volume falls, and planning delays will keep new stock scarce for years. For buyers with a multi-year horizon, the north offers values still more moderate than the southwest — a gap that has been narrowing — with Formentor sitting at the extreme end of that scarcity.
Source: Balearic Properties, 2026
