High August rents on islands

THE Balearics, Levante, Catalonia and the north of Spain are among the areas with the most expensive rents per square metre along the coast in August, according to figures from the Valuation Society TecniTasa. In fact, to rent an apartment on the beach on Ibiza, Majorca and Minorca costs more than 50 euros per square metre. The beaches of Sanxenxo (Pontevedra), Ibiza (Santa Eulalia and Club Nautico) and Gerona (Llafranc) cost over 5'000 euros for rentals of more that 120 square metres. At the same time, Murcia and Almeria are becoming enclaves of residential tourism for the British in Spain, who every year invest more in holiday homes in these areas because of the high prices on the Costa del Sol and the overcrowding on the Costa Blanca. Until now this was their favourite place, along with the Balearics. The preference of the British to now buy holiday homes in Murcia and Almeria is a loss to the islands. This was the finding of the latest Barometer report about the property investment trends of the British in Spain, published by Barclays.
Murcia is the fourth Spanish province with the highest number of British residents, behind Alicante, Malaga and the Balearics. In fact, 8'562 Britons have a residence permit in Murcia, some 5.7 percent of the total of Britons resident in Spain.