RENTING an apartment on the beach in Ibiza and Minorca in August will cost you 60 euros per square metre, which means you can pay around 5'000 euros per month.

These two islands, together with northern Spain and the Costa Brava, are the most expensive areas this Summer.
A report compiled by the company Tecnitasa indicates that there are areas on Ibiza and Minorca where the cost of an apartment can be as much as 5'400 euros per month.

At the same time, in relation to Majorca, Tecnitasa said that the beach areas are the cheapest in the country as you can rent flats in Colonia de Sant Jordi for 1'200 euros a month. “The price of apartments for rent in coastal areas is very different and so the price of tourist apartments varies”, says the report. Figures extracted from the report say that Ibiza is one of the most sought after places on the islands. A flat in the Club Nautico costs 5'400 euros.

Comparing this with other coastal holiday areas, Puerto Banus (Malaga) is rising in price, where an apartment costs 5'000 euros a month.
The same in happening on the Valencian coast, which is one of the most expensive in the country, with average prices in excess of 4'000 euros per month.

Residential tourism and holiday homes have become the main competitors to the hotel industry in tourist areas.
In the Balearics everything with regard to holiday homes is regulated.
The previous Balearic Government passed this law, but the same was not done for residential tourism, which is advertised through travel agents, the internet and specialist magazines.

The Balearic Ministry for Tourism sought to amend the law during the previous legislature, so that residential tourism could be controlled, as every Summer it is one of the most sought after offers in all of the tourist areas.

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