Property

Price to rent in the Balearics has risen 66%

The price for rent in the Balearics has risen steeply. | Pere Bota

Majorca Daily Bulletin reporterPalma12/03/2020 14:19

According to property website Fotocasa, the price to rent in the Balearics has risen 66% over the past five years, the highest in the country, with the national average having been 50%. The analysis was from December 2014 to December 2019.

The municipality where there was the greatest increase was Ibiza. The 93% is well ahead of Calvia in second spot - up 46%. In Palma, the only district of the city where there was a decrease was the centre; it was down 22%. The highest increase was 59% in Playa de Palma.

Behind the Balearics were the Canary Islands with a 64% increase. Then came Madrid (63%) and Catalonia (60%). Regions where increases were below the national average included Andalusia (42%) and the Basque Country (30%). Extremadura, with nine per cent, had the lowest increase of all.

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Paul | over 5 years ago

And wasn't the legislation introduced a few years ago for licensing of all self catering accommodation, supposed to have freed up more housing for locals (therefore driving down rental prices)?!

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Britbabe | over 5 years ago

Pure greed. There should be caps on the percentage increase allowed.

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Property

Price to rent in the Balearics has risen 66%

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