The price of housing in the Balearic Islands has reached €3,779 per square meter in the third quarter, according to a report by the real estate portal Fotocasa. This represents a 17.5% increase compared to last year, despite a 0.7% decrease from the previous quarter.
5 Things You Need To Know:
- Balearic Islands has the highest housing prices in Spain, followed by Madrid and the Basque Country.
- The most expensive municipalities in the Balearic Islands are Ibiza, Andratx, and Santa Eulària des Riu.
- The cheapest municipalities in the Balearic Islands are Sa Pobla, Inca, and Ferreries.
- Santa Eulària has experienced a -9.6% decrease in housing prices, while Sa Pobla and Ciutadella de Menorca have seen an increase of 9.9% and 8.4% respectively.
- The scarcity of housing stock is the main factor driving up prices in the Balearic Islands.
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