Property costs put Balearic families in budget crunch

BALEARIC families spend almost a third of their total monthly budget on mortgage or rental fees.
Specifically, in the Islands 29.04 per cent of all income is allocated to cover property-related fees, without counting other spending such as the land property tax, water or light bills, according to the report carried out by property online site pisos.com, using the data provided by the National Statistics Institute (INE).
In national terms, households allocate 24 per cent of their income on the mortgage or rent.

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