The pressure of the real estate market in Balearic Islands continues to increase, consolidating the community as one of the most expensive in the country to rent. According to a recent report by the Observatorio del Alquiler, tenants in the islands spend 39.3% of their income to pay the monthly rent, a figure that is only surpassed by Guipúzcoa. This high economic effort contrasts with the recommendations of the Bank of Spain, which suggests not devoting more than 35% of income to rent. In addition, the Balearic Islands leads, together with Barcelona, the highest average number of cohabitants per dwelling in Spain, with 2.5 persons per household. This phenomenon reflects how the high cost forces many families and individuals to share expenses, making cohabitation a necessary strategy to maintain economic stability. The situation is even more critical if we consider that the average rental price in the Balearic Islands is 1,602 euros per month, a figure that significantly exceeds the national average and which places the islands at the center of a debate on access to housing. Despite these figures, the real estate market continues to show little supply, which puts even more upward pressure on prices and makes it difficult for many people to access a rental with a single income.
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Most expensive rents in Spain
According to Idealista’s most recent report, these are the autonomous communities where the most expensive rents in Spain are paid on average.
- Madrid Community 18,2€ m/2
- Catalonia 17,8€ m/2
- Balearic Islands 17,6€ m/2
- Basque Country 14,2€ m/2
- Canary Islands 14€ m/2
- Valencian Community 11,2€ m/2
- Andalusia 11,1€ m/2
What percentage of their income do Spaniards spend on rent?
The Balearic Islands, Guipúzcoa and Barcelona top the ranking of the most expensive regions to rent in Spain. According to the report, Baleares has an average price of 1,602 euros per month, slightly above Barcelona, which registers 1,598 euros. Madrid is in third place with 1,421 euros, followed by Vizcaya and Las Palmas, where prices also require an economic effort of more than 38% of income. The report highlights that these figures not only affect families, but also limit the mobility of professionals and students, who find it more difficult to settle in these regions due to the cost of housing.
On average, Spaniards spend 34.2% of their income on rent, according to the Observatorio del Alquiler. However, this figure varies considerably between provinces. In the Balearic Islands the percentage reaches 39.3%, well above the national average. The report also points out that, although the average effort has decreased slightly compared to previous years, this reduction is not due to a drop in prices, but to the increase in the number of cohabitants per household, which allows expenses to be shared. In contrast, provinces such as Ciudad Real, Teruel or Burgos show more sustainable economic efforts, with rates below 25%. However, these areas have a more limited supply of employment, which makes it difficult for them to become a viable alternative for many families.
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