Mallorca property: Palma price to rent 5% lower than the record

11.7 euros per square metre - the average price to rent in Palma. | Alejandro Sepúlveda

Majorca Daily Bulletin reporterMadrid12/05/2022 12:08

The latest report from property website Idealista indicates that the price to rent in Spain went up on average by 1.2% in April compared with March - this equated to 10.9 euros per square metre per month.

In eighteen provincial capitals, the average price to rent was the highest it has been - this was according to Idealista's historical series. Vitoria in the Basque Country, with 10.4 euros per square metre, topped this list.

There were, however, a number of capitals with an average price below the historical maximum - by between one and two per cent in the likes of Almeria, Malaga and Santa Cruz de Tenerife. In certain instances, the average was five per cent or more below the record. Palma was one of these capitals. The April price was 11.7 euros per square metre, below a high of 12.4 euros in May 2020.

The greatest difference compared with the historical high was in Madrid - 15.2 euros per month, which was 9.4% below the 16.8 euros in May 2020.