Increase in house prices in the Balearics way higher than the rest of Spain

Up 18.7% year on year

Only six regions registered price increases in July. | Alejandro Sepúlveda

Andrew EdePalma14/09/2023 17:21

July figures from Spain's General Council of Notaries indicate that house prices in the Balearics increased by 18.7% compared with the same month of last year.

This was the highest percentage increase in Spain and by quite a margin. The second highest was 7.1% in the Basque Country. Only four other regions registered an increase - Valencia (4.9%), Navarre (3%), La Rioja (1%) and Catalonia (0.4%). Nationally, the price (per square metre) fell by 4.6%.

At the same time, the Council points to there having been a 30.7% fall in the number of sales in the Balearics. Just two regions had higher percentage decreases - Navarre with 35.3% and the Canaries with 37.4%.

Nationwide, sales were down by 18.4%. No region registered an increase in July. The best region in this respect was Cantabria with -2%.