Palma has positioned itself as the fourth most expensive city in Spain to live in, with a cost of living 7.8% higher than the national average, according to a study by the platform Kelisto. The Balearic capital stands out for its high prices in housing, rent, petrol, and other services. San Sebastián tops the ranking of the most expensive capitals, exceeding the average cost of living by 13.92%. Following it are Madrid (+12.5%), Barcelona (+10.51%), and Palma (+7.82%). The analysis conducted by Kelisto.es takes into account data from the 50 provincial capitals, as well as the autonomous cities of Ceuta and Melilla.

Housing and rent: Among the highest in the country

The price of housing in Palma is 90% above the national average, making it one of the most expensive cities to purchase property. Regarding rent, Palma ranks as the fourth most expensive city in Spain, with prices 42.4% higher than the national average. Compared to cities like Madrid and Barcelona, Palma remains competitive in terms of costs, but still surpasses more affordable cities like Zaragoza or Vigo.

Petrol: Palma leads in prices

Palma is the most expensive city in Spain to refuel petrol, with an overcharge of 6.8% compared to the national average. This high price places Palma in a similar position to Madrid and Barcelona, far above more economical cities like Murcia, where transportation costs are significantly lower.

Taxes and bills: an additional burden

Palma also stands out for its high taxes, such as the waste collection fee, where it ranks eighth highest in the country. In terms of the vehicle tax, it ranks fourth, 10% above the national average. Comparatively, these figures are higher than in other cities, such as Seville or Valencia, where taxes are lower.

Household bills and insurance premiums are also higher in Palma compared to other Spanish cities. Although the price of the shopping basket aligns with the national average, the cost of a bus ticket in Palma is 57.8% higher than the average, making it the second most expensive city in this regard.

Leisure: contrasting prices

In terms of leisure, Palma is one of the cheapest cities to buy a cinema ticket, with a price 10.7% below the national average. However, the price of a pint of beer is 3.2% above the average.

The Kelisto study highlights that Palma is one of the most expensive cities to live in Spain, with high costs in housing, transportation, taxes, and services. Compared to more affordable cities like Vigo and Murcia, Palma presents a significantly higher cost of living, solidifying its reputation as one of the country’s most exclusive capitals.