Rents increased by 2.9% in the Balearics in the last quarter compared to 2021, making the Islands the 4th most expensive place in Spain to rent a property, according to the Fotocasa Real Estate Index.
In Q3, properties were renting for 11.76 euros per m2 per month on average, with hikes of 3.2% in the Basque Country; 2.9% in the Balearic Islands; 1% in the Canary Islands; 0.4% in Catalonia; 0.4% in the Valencian Community and 0.2% in Extremadura.
The most expensive rentals are in Catalonia which costs 13.85 euros per m2 per month, followed by 13.52 euros per m2 per month in Madrid; 13.51 euros per m2 per month in the Basque Country and 11.76 euros per m2 per month in the Balearic Islands.
Year-on-year prices rental prices decreased by 2.2%.