The average price per square metre stood at 3,687 euros, a figure that represents an increase of 17% compared to the same month in 2022. The purchase of homes fell by 18.5%, according to data from the General Council of Notaries
The number of home sales and purchases fell by 18.5% year-on-year in May in the Balearic Islands to 1,469 transactions. For its part, the average price per square metre stood at 3,687 euros, 17.2% more than in May 2022, according to the General Council of Notaries.
By type of housing, sales of flats on the islands fell by 16.6% year-on-year, to 1,158 units, while sales of single-family homes fell by 24.9% year-on-year, to 311 units.
Prices of flats on the islands rose by 14.3% last May compared to the same month in 2022, to 3,303 euros per square metre. For its part, the price of single-family homes stood at an average of 4,264 euros per square metre, an increase of 20.3%.
As regards mortgage loans for the purchase of a home, these fell in the Balearic Islands by 27.5% year-on-year last May, to 591 operations. The average amount of these grew by 7.8% year-on-year, and stood at 241,806 euros.
40.2% of homes were financed through a mortgage loan last May in the Balearic Islands. On average, the loan represented 61% of the price.
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