The costs of new and used housing in the Balearics are some of the highest in Spain. A study carried out by property valuers Tasamadrid reveals that the cost of new housing is priced at 1.280 euros per square metre, the fifth highest in Spain, and used housing, 998 euros per square metre, the fourth most expensive in Spain. On average, the cost of new housing in Spain rose by 12 per cent, to reach an average of 1.100 euros per square metre and used housing by 17 per cent to reach the 850 euros per square metre mark. The highest rise in the cost of new housing last year was in the Basque Country where the average price of new housing hit the 2.100 euro mark. Madrid witnessed the second highest increase with new housing now valued at around 1.515 euros per square metre and in Cataluña, 1.310 euros per square metre.

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