Balearics price rise for used homes the second highest in Spain

Nationally, the average price in December was 1,878 euros per square metre, a year-on-year increase of 2.79%.

The director of studies for pisos.com, Ferran Font, says that the levels of mortgage lending and sales over the past twelve months make clear that "the residential segment is booming". "Interest in housing has been largely motivated by the refuge value of this asset, which has taken on enormous relevance given the current inflationary scenario."

Sant Josep de Sa Talaia in Ibiza was the most expensive municipality in Spain at 5,565 euros per square metre, while in Palma there was a monthly two per cent increase, the ninth highest in the country. Year-on-year, the increase was 8.93%, the fourth highest. At 3,396 euros per square metre in December, Palma was the fifth most expensive provincial capital.

In Es Castell, Minorca, there was a 12.57% increase over the last quarter, the highest for a Spanish municipality. Sa Pobla, -10.67%, had the greatest decrease. In December, an average price of 1,330 euros per square metre made Sa Pobla the most affordable municipality in the Balearics.