Palma.—The growth of the property market in the Balearics, said the National Institute for Statistics (INE) yesterday, compares very favourably with buying and selling on the mainland where the year-on-year increase in September this year was just 0.9 percent.

However, compared to the month of August this year when there had been 901 contracts signed, property transactions in September were a 30.9% downturn.
Of the 622 buying and selling operations in September in the Balearics this year, 584 were in the private housing market. Of the total, 47.4% of properties were second hand and new buildings accounted for 52.5%.

In September, there were 70 buying or selling contracts for every 100'000 head of population.
La Rioja (128 per 100'000 head of population) and Valencia (103) were the regions where most property transactions were carried out.
Sixty two percent of all property transactions in September were carried out in Andalucia, Valencia, Catalonia and Madrid.