Fotocasa data for February indicate that the price of housing in the Balearics rose 20% year-on-year to an historic peak of 3,466 euros per square metre. The cost to rent, meanwhile, was above 15 euros per square metre, a 26% rise, according to Fotocasa's real estate index.
Mato explained that the increase in house prices was the second highest based on the website's records, only surpassed by 20.4% in May 2006, which was around when a housing bubble in the Balearics was becoming evident. She suggested that the increases coincide with the European Central Bank's monetary policy change. "Demand has resurfaced and society is experiencing a 'buy now or never' moment before mortgages tighten further."
* While information from websites such as Fotocasa may be an indication, sources like the National Statistics Institute and notaries provide official and more complete information.
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