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Housing Prices Fall by 6% on the Islands in July

The average price of housing on the Balearic and Canary Islands fell by 5.9% in July, leading to a cumulative drop of 8.2% since March. In parallel, the Mediterranean coast saw a drop of 2.4%.

baleares mallorca

The price of new and existing housing has fallen by 0.9% in the Spanish market in July compared to the previous month, according to the IMIE General and Large Markets statistics prepared by Tinsa.

The index has accumulated a fall of 1.9% since the declaration of a state of alarm in March, returning to a level last seen a year ago. “For the first time since August 2016, the year-on-year change in the national index is in negative territory (-0.03%),” notes Rafael Gil, Research director at the firm.

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