Balearic property prices on the rise

THE property market of the Balearic Islands continues to show signs of recovery.
Latest data released by property site Idealista shows that prices of second-hand homes have increased by 1.1 per cent in the Islands between April and June of 2015, reaching a total of €1,834 per square metre, while in Palma de Mallorca, the growth registered amounted to 2.5 per cent.
Prices have increased in practically every municipality of the Islands, Es Castell being the area with a highest increase (5.3 per cent), followed by Santa Eulalia del Rio (4.8) and Sant Antoni de Portmany (4.6).
On the other hand, there were some areas seeing a decrease, the largest in Sa Pobla (down 4.1 per cent), Port d’Alcudia (-2.4) and Puerto de Pollença (-2.2).
“Figures show that, in general terms, second-hand property prices look to have stabilised,” said Idealista’s research chief, Fernando Encina.