It is the most expensive community to live for rent according to the report published by pisos.com

The price of rent in the Balearic Islands has registered an increase of 19.58% over last year, according to the real estate portal pisos.com. The islands are thus placed as the region where prices have risen the most. The square metre stands at €15.45, ahead of the cost in Madrid (€14.90) and Catalonia (€12.56), the other two most expensive regions. At the opposite end of the scale are La Rioja (€4.59), Castilla y León (€4.83) and Asturias (€85.01).

Although prices have fallen by 5.3% compared to the previous quarter and by 2.89% compared to the month, the Balearic Islands continues to lead the list of the most expensive regions to live in. It is also at the top of the ranking of provinces, followed by Barcelona, Madrid, Malaga and Las Palmas. By capital city, Palma is in 4th place (16.05 €/m²), behind Barcelona (23.26 €/m²), Madrid (19.46 €/m²) and Donostia – San Sebastián (18.52 €/m²).

According to Ferran Font, director of research at pisos.com, “rental prices continue to break all records, encouraged by the cooling of sales and purchases, which keeps many buyers in the rental market, who prefer to wait for a correction in interest rates and, therefore, slightly cheaper mortgages”.

Referring to the current imbalances, the expert adds: “The Housing Act can only aggravate the situation further, as the basic problem is the lack of available flats for rent, and the restrictions discourage landlords and make things even more difficult for actively seeking tenants.

 

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