Average monthly payments mean a deficit for many families. | Miquel À. Cañellas

When average house prices and salaries are taken into account, it takes families in the Balearics longer than anywhere else in Spain to pay off the mortgage. The average repayment period, according to a study by the Raisin savings website, is 48 years, a length of time that not even banks contemplate. Raisin's calculation is based on an average price of 254,915 euros and a family's average net salary of 37,995 euros.

Although the repayment period depends on the bank, the most common maximum is 30 years. There are only certain banks, ING is one, that are willing to consider 40 years. The conditions are usually very strict, and so the longer the repayment period, the higher the interest.

The Raisin study calculates that the average monthly repayment is 918 euros. When other bills and household expenses are factored in, there is a monthly deficit of 360 euros. There are only two regions with a negative monthly account - Madrid is the other with 236 euros.

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Raisin's conclusion is that access to housing in these two regions is "unattainable for the average family". "Even with two salaries it becomes impossible."