Balearic Islands: Housing Price Climb by 0.7% in January & Sets at 1.835 €/m2

4/02/2014 – 20 Minutos

Average price of a pre-owned house on the Balearic Islands has gone up in January by 0.7% and now a mean square meter costs 1.835 €. The value is 5.8% higher than the national average, in January equal to 1.734 /m2 , according to the news provided by fotocasa.es.

This way, the Balearic Islands are the fifth autonomous community with the highest prices. In the ranking, before them there are: the Basque Country (mean price of 2.985 €/m2), Madrid, Catalonia and Cantabria (1.885 €/m2).

The Islands reached top in 2007, when a price per square meter was eqal to 2.762 €. Now it fell by 33.6%.

Municipalities with Ups and Downs

Precisely, five out of eight Balearic municipalities analyzed show rise in the second-hand dwelling price. The one with the best score is Ciutadella de Menorca (growth by 4.3%), Manacor (3.6%), Ibiza (2%), Llucmajor (0.5%) and Palma de Mallorca (0.3%). On the other side, there are: Marraxí with the biggest decline (-0.5%), then Calvià (-0.4%) and Inca (-0.3%).

When it comes to prices, Ibiza is the most expensive city, setting the mean price at 2.836 €/m2. In turn, Inca is the cheapest among them, with 1.306 €/m2.

Original article: 20 Minutos

Translation: AURA REE

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