Property prices in Mallorca are still going through the roof. | Majorca Daily Bulletin reporter

The price of second-hand housing is skyrocketing in the Balearics, where last August saw the highest year-on-year rise in the last three years and the highest in the country, according to Fotocasa.
The monthly variation was 2.9% and the year-on-year variation was 10.9%.

Last August, the average price per square metre stood at 3,184 euros.

The average price of second-hand housing has risen in 14 of the 17 municipalities with year-on-year variation analysed by Fotocasa in the islands.

In three locations the year-on-year value of housing has risen by more than 20%.

These are Capdepera (29.6 %), Calvia (27.8 %) and Alcudia (21.3 %).

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However, in Pollensa it has dropped by 11.1 %. Another relevant fact provided in the study is that the most expensive towns are Ibiza, with 5,369 euros per square metre; and Santa Eulària des Riu, with 5,019 euros.

On the other hand, the cheapest municipality is Sa Pobla, with a price of 1,429 euros per square metre.

María Matos, Director of Studies and Spokesperson for Fotocasa, has highlighted that the Balearics is the autonomous community in which the highest year-on-year increase in the price of used housing was recorded in August.

The second was Navarre, with 10.1%. It is followed by Madrid, with a 7.4% increase; Valencia, with 6.8%; the Canary Islands, 5.4%; and Andalusia, with 5.3%.

The Balearics are also at the top of the ranking of the regions with the most expensive second-hand property prices in Spain.

The first is Madrid, where the square metre sells for 3,359 euros; and the second is the Balearics, with 3,184 euros per square metre.