By Cathy Elelman •
Published: 17 Jul 2020 • 19:59
INCREASE: There has been a 15.7 per cent rise in the average proportion of salaries spent on renting over the last five years.
THE cost of renting in the Balearic Islands has gone through the roof in recent years, a new study reveals.
The ‘Relation of salaries and rental property 2019’ study based on figures from Fotocasa and Infojobs shows tenants see an average of half their salaries going to paying for their accommodation.
This is 8.1 per cent up on 2018 and represents an increase of 15.7 per cent on five years ago.
In 2015 renters on the islands typically needed to dedicate 34 per cent of their monthly earnings to the roof over their heads.
Based on the findings for 2019, the Balearics are fourth in the rankings of Spain’s regions for the proportion of salaries spent on rent.
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Cathy Elelman is the local writer for the Costa de Almeria edition of the Euro Weekly News.
Based in Mojacar for the last 21 years, Cathy is very much part of the local community and is always well and truly up on all the latest news and events going on in this region of Spain.
Her top goals are to do the best job she can informing the local English-speaking community, visitors to the area and the wider world about about the news in Almeria, to learn something new every day, and to embrace very new challenge this fast-changing world brings her way.
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