High cost of Calvia homes

PALMA
CALVIA is the second most expensive area in the Balearics for property, with average prices in the region of 2'966 euros per square metre.- The figures were released yesterday in a report from the Spanish ministry of housing, relating to municipalities with more than 25'000 inhabitants.

The most expensive place for buying property in the Balearics was Santa Eulalia del Rio in the neighbouring island of Ibiza, where property costs 3'271.4 euros per square metre.

In third place was Ibiza town, with an average of 2'898.8 euros per square metre.
Ciutadella in Minorca was fourth on the list with an average price of 2'854 euros per square metre.
All these prices were much higher than Palma, the capital of the Balearics, where the average cost of property is 2'547 euros per square metres. The report also revealed that when it came to properties under two years old, Santa Eulalia del Rio, Calvia and Ciutadella topped the list in that order.

In Santa Eulalia, for example, a two year old property fetched 3'579 euros per square metre.
In second place was Calvia at 3'501 euros per square metre and third was Ciutadella, at an average of 3'032 euros per square metre.
The trend continued in property which was more than two years old, where once again Santa Eulalia topped the list at 3'108 euros per square metre.
Ibiza town was the second municipality with an average price of 2'927.6 euros per square metre.
Calvia , which is in the west of Majorca, has long been considered one of the wealthiest municipalities in the Balearics. It covers an area of 145 square metres and includes the popular resorts of Illetas, Palmanova, Magalluf, Santa Ponsa and Paguera.

Cas Catala, Bendinat, Portals Nous, Son Ferrer, El Toro, Es Capdella, Galatzo and the Costa de la Calma also come under the jurisdiction of the Calvia town council. Its main source of income is tourism, and it has a large foreign population.