The Balearics leading the property market. | Pere Bota

Figures for the sale of homes in January from the General Council of Notaries indicate that there was a 66.7% increase in the Balearics compared with January 2021.

This was almost double the national average increase of 34.5%. At the national level, there were 47,503 sales, with an average price per square metre of 1,599 euros, an increase of 6.8%. Of the 47,503, there were 36,058 flats, a year-on-year increase of 37%. For houses, the rise was 27.3%.

There were increases in sales in all Spain's regions, with the Balearics having had the highest percentage increase. Second were the Canary Islands (54.9%), followed by Extremadura (49.1%), Castile and León (48.5%) and Valencia (45.1%). The lowest increases were in Navarra (2.1%), the Basque Country (16.9%) and Aragon (23%).

The average price per square metre rose in fourteen of the seventeen regions, the Balearics having also registered the highest percentage increase - one of 22.6% - followed by Cantabria (21.3%) and Asturias (18.2%). Prices fell in Galicia, Navarre and La Rioja.