Property

Slight increase in the price of Balearic homes last month

Majorca Daily Bulletin reporterPalma02/03/2016 00:00

According to the real estate website, Idealista, the price of used housing in the Balearics increased by 0.3% in February, meaning that there was an average price of 1,900 euros per square metre. There were, suggests this survey, only two regions where the cost of housing increased. The Balearics was one and the Canaries the other. There, the increase was 1.5% more than in January.

Overall, there was a fall in price of 0.9% across Spain, giving an average price of 1,583 euros per square metre. Compared with February last year, the drop was almost the same: 0.8%. La Rioja was the region where there was the highest percentage decrease. The 2.8% there was greater than the 2.2% in Murcia.

The Balearic cost per square meter makes the islands the third most expensive region for used homes. In Madrid it is 2,371 euros and in the Basque Country 2,550 euros. The cheapest parts of Spain are Murcia (1,057 euros per square metre), Castile La Mancha (968) and Extremadura, the cheapest of all with 955 euros.