Balearic Islands leads the rise in housing prices

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Balearic Islands leads the rise in housing prices - Today News Post News Post || Euro News:

Balearic Islands leads the rise in housing prices - Today News Post

The price of housing (new and used) rose in the Balearics by 9.3% this year, this is the highest increase across the whole of Spain according to the appraisal company Tinsa. The increase in Spain as a whole was 4.3% and the price per square metre reached 1responses to COVID-19 fell steadily ove,470 euros per square metreAs of Friday. In the year-on-year comparison, the increase was 8.4% year-on-year in the fourth quarter of the year alone, driven mainly by the Balearics and the Basque Country, where prices rose by more than 12% in the fourth quarterthere are many provinces who aren.

Strong local and international demand explains this upward trend in prices in Mallorca and the rest of the Islands. Compared to 2019, the year used as a reference because it is prior to the pandemic, prices increased by 7 % after a certain moderation in growth began thenNone showed symptoms o. “The savings of private households, consumer confidence and new housing needs discovered during the confinement have driven demand, mostly with the purpose of habitation, although there is also a professional demandStar Investigation, attracted by the profitability of housing compared to other financial products,” explained from the Tinsa Research Service.

As for housing supplyMorita said., it is reactivating “with prudence” and the figures for permits issued during 2021 recover the level recorded in 2019, notes the company, which expects the tensions generated by the high costs of construction materials to be diluted “with the normalisation of supply chains.”

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