Paseo Marítimo has Palma´s dearest flats

THE dearest flats in Palma are on the Paseo Marítimo, where property costs 3'400 euros per square metre, while the cheapest are in Son Gotleu, at 1'800 euros per square metre. Flats in the gentrified areas of the old part of the city can also command 3'400 euros per square metre, according to a report by the independent rating company TecniTasa. The report says that at this time last year, the top price for property in the old part of Palma was 2'200 euros per square metre, while in Son Gotleu, flats were 1'200 euros per square metre. But the Paseo Marítimo is by no means the dearest place in Spain.
There are now nine cities where the top price for housing is more than 6'000 euros per square metre: Madrid, Barcelona, San Sebastian, Bilbao, Marbella, Santander, Sevilla, Oviedo and Zaragoza. Palma occupies an intermediate position in the ratings, as 36 of the 71 areas studied in the report have higher prices than the island.
Madrid has the dearest property, at 9'500 euros per square metre in Calle Serrano, followed by Barcelona (9'000 euros in the Paseo de Gracia).
These prices are more than 20 per cent higher than last year, the report says.
The cheapest housing is to be found in Jerez de la Frontera, where property costs as little as 425 euros per square metre in the suburbs of Cerrofruto and San Juan de Dios. It is followed by Cuenca (600 euros per square metre in La Periferia) and Murcia (650 euros per square metre in the Polígono de la Paz).