One of the world's richest men is selling luxury homes in Palma for up to 8.5 million.
The real estate company linked to Warren Buffett is marketing a development in Jonquet amidst soaring housing prices.
PalmThe Spanish real estate subsidiary of American magnate Warren Buffett, Berkshire Hathaway HomeServices Spain, is marketing a development of ten housing Luxury properties in the Jonquet neighborhood of Palma, with prices ranging from 1.5 to 8.5 million euros.
The project, already under construction, includes two townhouses and eight apartments located next to the seafront promenade, overlooking the bay. The villas, approximately 800 square meters, feature gardens and private pools, while the residential building comprises ground-floor apartments with gardens, apartments, and penthouses with panoramic terraces. The development is clearly aimed at the high-end market and forms part of the Berkshire Hathaway group's international strategy.
One of the richest men in the world
Buffett, known as theOracle of OmahaHe is one of the most prominent figures in global capitalism and consistently ranks among the five richest men on the planet, with an estimated fortune of around $140 billion. His conglomerate, Berkshire Hathaway, is valued at over $900 billion and encompasses businesses in key sectors such as insurance, energy, and finance.
In recent years, the group has strengthened its presence in the international real estate market through its HomeServices division, with a special focus on the luxury residential segment and destinations with high international demand, such as Mallorca.
Rising prices and increasingly difficult access
The transaction comes amid a sharp rise in housing prices in Palma and the Balearic Islands. At the beginning of 2026, the average price in the Balearic capital exceeded €5,100 per square meter, reaching record highs and with annual increases of over 10%.
At the same time, the financial effort required to access housing has also skyrocketed: buying an apartment in Palma requires allocating nearly 46% of family income, the highest percentage in the entire country and well above the 35% considered sustainable.
This trend is not new. Across the Balearic Islands, housing prices have risen by more than 60% in the last five years, reaching an average of over €460,000 per property. Similarly, rents remain among the most expensive in Spain, at around €18-19 per square meter per month.
A market geared towards luxury
In this context, the proliferation of developments like Jonquet reinforces a consolidated trend: the growth of the luxury real estate segment in parallel with the difficulties of access to housing for the resident population.
The Balearic Islands have become one of the most expensive markets in Spain, with Palma ranking among the capital cities with the highest prices. The combination of a limited supply, high international demand, and the island's tourist appeal has gradually shifted the market towards buyers with significant purchasing power.
In this scenario, the presence of operators linked to large global fortunes like Buffett demonstrates the growing weight of international capital in the local real estate sector and the transformation of certain areas of the city into products geared towards luxury and investment.