Palma is the most expensive city in the country.

30-03-2017Pere Bota

Another website has provided its report about the property market. According to pisos.com, the price of homes in the Balearics increased 20.2%, although there was a 3.6% drop in November, resulting in an average per square metre of 2,859 euros.

Prices in the Balearics, says the report, rose more than in other regions. The Balearics is the most expensive in the country, with the Basque Country second with an average of 2,709 euros. The prices in Palma increased more than in other cities. It is the fifth most expensive in Spain. A rise of 27.2% pushed the average up to 3,030 euros per square metre.

In December, Sant Josep de Sa Talaia, with 6,138, was the most expensive municipality in the country. Sa Pobla, on 1,433, was the most affordable in the Balearics.

In Spain as a whole, the average price at the end of last year was 1,673 euros, 6.4% more than in December 2017.

Ferran Font, the website's director of studies, says that a price ceiling has been reached in some parts of the country. A moderation in price, he adds, would be expected as the economy slows down. For this year he envisages there being influences on prices, such as new regulations regarding rental and mortgages.