{"id":149913,"date":"2025-10-23T17:20:42","date_gmt":"2025-10-23T15:20:42","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/comprar-vivienda-balears-exige-doble-tiempo-resto-espana\/"},"modified":"2025-10-24T12:16:52","modified_gmt":"2025-10-24T10:16:52","slug":"comprar-vivienda-balears-exige-doble-tiempo-resto-espana","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/comprar-vivienda-balears-exige-doble-tiempo-resto-espana\/","title":{"rendered":"Buying a home in the Balearic Islands takes twice as long as in the rest of Spain"},"content":{"rendered":"

Residents in the Balearic Islands<\/strong> need twice as long to buy a home<\/strong> compared to the rest of Spain<\/strong>, according to the Economic and Social Council (CES) report<\/strong> for 2024<\/strong>. In the islands, a family must allocate 60.8 years of salary<\/strong> to purchase a home if they devote 30% of their income<\/strong>, compared with the national average of 29.7 years<\/strong>.<\/p>\n

\"Castell<\/p>\n

The study identifies the Balearic Islands as the region requiring the greatest financial effort<\/strong> to access housing, both for purchase and rental. High prices<\/strong>, moderate wages<\/strong> and growing demographic pressure<\/strong> explain this situation, which worsens year after year.<\/p>\n

High foreign investment<\/h2>\n

One of the most significant factors is that 26% of the homes purchased in 2024<\/strong> were bought by non-residents in Spain<\/strong>, more than three times the national average<\/strong>. This phenomenon reflects the importance of second homes and foreign investment<\/strong>, which contribute to the rising prices in the Balearic property market.<\/p>\n

As a result, the price of housing<\/strong> increased by 6.6% year-on-year<\/strong> in 2024, while in the case of new homes, the rise reached 11.5%<\/strong>. Since 2015, the cost of new housing has doubled<\/strong>, consolidating the islands as the territory with the highest price increases in the country<\/strong>.<\/p>\n

Population growth<\/h3>\n

Adding to this market pressure is a strong population increase<\/strong>. According to the CES, the Balearic population reached 1,231,768 inhabitants<\/strong> on 1 January 2024, representing a 1.8% rise in one year<\/strong> and 10.4% over the past decade<\/strong> \u2014 the highest variation in Spain<\/strong>.<\/p>\n

This growth is almost entirely due to foreign migration<\/strong>, which accounts for 88.3% of population growth<\/strong>, compared with the national average of 11.7%<\/strong>. Natural growth, by contrast, is minimal, with just 0.08 per 1,000 inhabitants<\/strong>.<\/p>\n

In 2024, there were 8,639 deaths<\/strong> and 8,738 births<\/strong>, although the latter have been steadily decreasing since 2008<\/strong>, with a 17% drop over the last decade<\/strong>. This confirms that the main demographic driver in the Balearic Islands<\/strong> in recent years has been immigration<\/strong>.<\/p>\n

The foreign population<\/strong> currently stands at 262,760 people<\/strong>, accounting for 21.2% of the total<\/strong> \u2014 the highest proportion in Spain. Of these, 25.6% come from the European Union<\/strong> and 24.1% from Latin America<\/strong>, illustrating the diversity and demographic weight of the foreign population<\/strong> in the archipelago\u2019s growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Residents in the Balearic Islands need twice as long to […]<\/a><\/p>\n","protected":false},"author":4,"featured_media":149888,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515,1513],"tags":[],"class_list":["post-149913","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism","category-society"],"yoast_head":"\nA home in the Balearic Islands costs more than 60 years\u2019 salary - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"A family in the islands must allocate 60.8 years of salary if they devote 30% of their income, compared with the national average of 29.7 years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/comprar-vivienda-balears-exige-doble-tiempo-resto-espana\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"A home in the Balearic Islands costs more than 60 years\u2019 salary - 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