Palma, Mallorca

House prices in Palma rose by 0.8% in February.

03-03-2021A. S.

According to the latest report from the property website Idealista, house prices in the Balearics rose by 0.7% in February to an average of 3,129 euros per square metre. The percentage increase was greater than in other regions, and the price itself was the highest. Behind the Balearics were Madrid (2,877 euros) and the Basque Country (2,669 euros).

The report indicates that house prices in the Balearics in February were a record for the islands and they had gone up by 2.2% compared with February 2020.

For the purposes of comparisons at provincial level, the Balearics are also treated as a province. In this respect, only Gipuzkoa in the Basque Country was more expensive - 3,167 euros per square metre.

At a city level, house prices in Palma went up by 0.8% to an average of 2,946 euros. This was one of the highest in Spain but behind Bilbao (3,081), Madrid (3,687) and Barcelona with 3,983 euros per square metre. Palma's all-time high was 3,055 euros last May.

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