Apartments in Mallorca

The cost to rent in Mallorca fluctuated in 2020.

13-01-2021Archive

According to property website Fotocasa, the cost to rent in the Balearics fell by 7.7% in 2020. This follows a decrease of 0.3% in 2019.

During 2020, the average monthly price per square metre fluctuated but did not go below eleven euros. The highest was 13.06 euros in April. For the whole year in the Balearics it was 11.25 euros.

Fotocasa's director of communications, Anaïs López, says that prices showed signs of moderating towards the end of 2020 and that the rental price is behaving "very irregularly", depending on area, and is moving at different speeds. In Barcelona and Madrid, price decreases are evident, while prices in other parts of Spain are rising strongly.

The average price increased in thirteen of the seventeen regions. Heading the list was Navarre with 18.8%. This was followed by Extremadura (8.9%) and Castile-La Mancha (8.2%). In four regions where, until three years ago, there were double-digit increases, there were decreases. As well as the Balearics, the average price was down in Madrid (-5.1%), the Canaries (-3.5%) and Catalonia (-1%).

Nevertheless, the Madrid region had the highest average price per square metre in 2020 - 14.10 euros. The national average was 10.65 euros. Four regions exceeded this: Madrid, Catalonia (14 euros), the Basque Country (13.18 euros) and the Balearics (11.25 euros). The price in Navarre was 10 euros.

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