The Balearic Islands consolidates as one of the most expensive places to rent housing in Spain, with an average price that exceeds 1,600 euros per month. This figure not only puts the islands in the focus of those seeking exclusivity, but also of those who face difficulties in finding affordable housing.
Balearic Islands and Barcelona: two sides of the same coin
Data from the Rental Barometer reveal that the Balearic Islands and Barcelona share the leadership in rental prices, at over 1,600 euros per month. However, the market dynamics in both provinces present different nuances. While Barcelona faces a drastic reduction in supply, with 9,284 fewer properties available in the third quarter, the Balearic Islands maintains sustained pressure, with 119 interested parties per property in the first ten days of publication.
The case of Barcelona, where demand reaches almost 400 interested parties per property, reflects a highly competitive market, driven by the declaration of stressed areas and the proliferation of alternatives such as tourist rentals. In the Balearic Islands, although the situation is less extreme, the combination of tourism, supply limitations and an exclusive environment continues to drive up prices.
The most expensive municipalities to live in
Among the most expensive provinces to rent, the Balearic Islands not only stands out at the provincial level, but also in its municipalities. Santa Eulària, Sant Josep and Ibiza are among the towns with the highest rents in Spain.
In the national top, the Balearic Islands shares the leading position with Madrid (1,502 euros), Guipúzcoa (1,429 euros), Vizcaya (1,230 euros), Malaga (1,195 euros), Las Palmas (1,082 euros), Valencia (1,041 euros) and Santa Cruz de Tenerife (1,040 euros).
A crisis marked by a lack of supply
The rental market in the Balearic Islands reflects a structural problem: the supply fails to respond to a constantly growing demand.
The trend, far from stabilizing, shows that places such as the Balearic Islands and Barcelona continue to be epicenters of this problem. On the islands, the impact of tourism and restrictions on new housing construction further exacerbate the situation.
A call to action
With an average rental price that far exceeds the national average of 1,117 euros, the Balearic Islands shows the urgency of implementing solutions to balance the market. Meanwhile, locals and foreigners alike continue to face a constant challenge in their search for housing.
