The Balearic Islands continues to be the province where its inhabitants must allocate a higher percentage of their income to secure housing, either to buy or rent it. An effort that, in addition, is increasing. According to data from a report by the real estate portal Idealista for the third quarter of the year, the Balearic Islands is the province that most requires workers to buy a home: it demands 46% of the income. In the same line, it is together with Malaga the province that registers a greater effort to rent: it costs 52% of the monthly salary. Both figures are well above the recommended 30%. Compared to the same quarter of the previous year, in the Balearic Islands the percentage of the salary destined to housing has grown: 3% in the case of purchase and 1% for renting. The Balearic Islands had already been this year the community with the highest increase in rental prices. At the national level, in the case of home purchase, the rate of effort has grown from 21% to 23% in the last year, while that of renting has gone from 31% to 35%. The lack of supply and the consequent increase in prices is the reason why the effort to buy or rent has reached the maximum recommended by experts with an increase of two and four points, respectively, in the last year, according to Idealista. The provinces that follow the Balearic Islands in terms of the percentage of income destined to the purchase of housing are Malaga (44%), Santa Cruz de Tenerife (36%), Alicante (31%), Madrid (27%) and Las Palmas (26%). In turn, as for renting, after the Balearic Islands and Malaga (both with 52%) follow: Barcelona (44%), Valencia (38%), Santa Cruz de Tenerife, Las Palmas, Alicante and Madrid (37% in the 4 provinces). Also above or equal to 30% are Guipúzcoa (35%), Girona and Seville (30% in both provinces):
Capitals
On the other hand, Palma is the Spanish capital in which families have to make a greater effort to rent (48%) or buy a home (47%). In turn, Malaga and Palma are the two cities in which the effort has grown the most, as it has increased by six points. Five capitals have effort rates higher than the 30% recommended by experts for buying a home: Palma (47%), San Sebastian (41%), Malaga (37%), Madrid (36%) and Barcelona (32%). As for renting, there are 10 capitals in which the effort to rent a two-bedroom house exceeds the 30% recommended by the experts. Palma is the one that requires the highest percentage of household income (48%), followed by Barcelona (46%), Malaga (43%), Valencia (40%), Alicante (40%), Madrid (38%), as well as San Sebastian (34%), Las Palmas de Gran Canaria (32%), Santa Cruz de Tenerife (32%) and Bilbao (31%).
