Palma has experienced the fifth highest percentage increase. | MDB

TW
4

According to property website Fotocasa, the average rent for an 80 square metre apartment in the Balearics has increased from 562 euros to 1,451 euros over the past ten years. These are the figures for April 2014 and April 2024.

The Fotocasa study indicates that only the Madrid region has a higher average rent - 1,466 euros. Madrid is one of four regions where rents have gone up most since 2014: the Canaries and Valencia as well as the Balearics are the others.

Related news

Maria Mateos, Fotocasa director of studies, says: "We are witnessing the greatest increase in rental prices in recent years. It is a trend that highlights a very great difficulty in accessing housing."

At a city level, the average for eighty square metres in Palma went up from 568 euros to 1,456 euros. In percentage terms, this was the fifth highest increase. Estepona topped the list, having gone from 446 to 1,297 euros.