Balearic house prices the highest in Spain

Balearics well above the national average price. | Josep Bagur Gomila

Majorca Daily Bulletin reporterPalma29/03/2022 11:38

The 2021 yearbook published on Tuesday by the College of Registrars indicates that the average house price in the Balearics was the highest in the country - 311,503 euros.

The national average price was 179,887 euros. There were four regions where this was exceeded. In addition to the Balearics, these were Madrid (291,000 euros), the Basque Country (246,700 euros) and Catalonia with 212,145 euros. The cheapest regions were Extremadura (81,102 euros), Castile-La Mancha (97,465 euros) and Murcia with 102,000 euros.

For the whole of Spain there were 564,569 sales, 34.5% more than in 2020. Foreign buying was down from 11.3% of the total in 2020 to 10.8%, but the College notes that this "did not correspond to a decrease in the total number of purchases by foreigners but to significant growth at the national level".

In the Balearics, 32.7% of purchases were by foreigners. In the Canaries, the percentage was 23.7%, in Valencia 20.8% and in Murcia 16.9%.

By nationality, the UK represented the largest foreign buying market in Spain, with preferences have been in Andalusia, Murcia and Valencia, specifically Alicante. The German market was strongest in the Balearics and the Canaries.