Salaries on the islands have increased by 7% while the price of rented housing has risen by 97.9% over the last ten years. This is according to a study by Fotocasa and InfoJobs<\/p>\n
The study “Relaci\u00f3n de salarios y el alquiler de la vivienda” (Relationship between salaries and housing rents) – combines the average prices of rented housing from the Fotocasa Real Estate Index and data on average salaries from job offers on the InfoJobs platform. This states that salaries in the Balearic Islands have increased by 7%, while the price of rent has increased by 97.9% over the last ten years.<\/p>\n
According to the evolution over the last year, the report shows that salaries in the Balearic Islands have fallen by 1.2% while housing has risen by 18.2% during 2022. The average salary in the Balearic Islands went from 23,577 euros in 2021 to 23,292 euros in 2022. In that period, the average rental price rose from 11.98 euros\/m2 to 14.16 euros\/m2.<\/p>\n
In this sense, Director of Studies and Spokesperson for Fotocasa, Mar\u00eda Matos, believes that the price of rent has risen “at a frenetic pace” in the last decade. She says that, after the recovery from the crisis in 2014, rental housing was promoted as the main housing option for citizens. “While demand increased, supply was scarce,” explains.
\nFor Matos, “the cost of rent is growing and salaries are not growing at the same rate, forcing citizens to make a 43% salary effort to pay their rent”.<\/p>\n","protected":false},"excerpt":{"rendered":"