With gorgeous sunny weather, friendly lifestyle and natural beauty it’s not hard to see why the Balearic Islands remain a top expat destination.
Almost 15% of house purchases in Spain as a whole were closed by foreigners - an increase on the last quarter - with Brits leading the way.
But in the Balearics specifically - which includes Majorca, Ibiza, Minorca and Formentera - a remarkable 32.5% of house purchases were made by foreigners with its dream location perfect for those who want to enjoy the Spanish lifestyle while living in a beautiful place with quick access to the sea.
The British were most active with 8.5%, followed by Germans (6.4%), Moroccans (5.5%), Poles (5.3%) and Italians (5.3%). Other nations included the French, Romanians and Dutch.
The Balearics also closed the third quarter of the year with the highest average house price, reaching 3,644 euros (£3,029) per metre squared, according to data from the Association of Property Registrars.
After the archipelago, the highest prices were in Madrid (£2,953), the Basque Country in the north of Spain, Catalonia, including Barcelona, (£2,159) and the Canary Islands (£1,948).
At the other end of the scale, the lowest prices were recorded in Castilla-La Mancha in central Spain with just 912 euros (£758) per metre squared and Extremadura, close to Portugal on the western side, with £678. Both of these communities have often been described as a glimpse into the “real” Spain and an undiscovered gem.
The average year-on-year price of registered housing in Spain rose by 4.4% in the third quarter of the year to reach 2,042 euros (£1,697) per square metre - the highest on record.
Don't miss: 'I moved to Spain from the UK six years ago - this is why I am not going back'
Don't miss: 'I am a Brit living in Spain - this common courtesy in UK is a major no-no here'
Don't miss: Picturesque villages in top Spanish city where homes cost £38k - there's a catch
This represents an intensification of the rises recorded in the second quarter (2.6%) and in the first quarter (1.9%), according to the registrars.
The average year-on-year price at the end of this quarter stood at an all-time high, surpassing the amounts of 2006 and 2007.
In the last twelve months, 594,233 sales and purchases were recorded, resulting in a year-on-year adjustment of 1.5%.
Interestingly, while the number of new housing sales increased by 6.2 percent, the number of used housing sales dropped by 3.2%.
Related articles
- Charming UK town surrounded by countryside where homes go for under £100,000
- Another city in Europe popular with Britons threatens new ban against tourists
- Spain holiday spot with breathtaking beaches named among best places to visit
- Spain's Malaga hit by new powerful storm as restaurants and hospitals flooded
- Jet2 to start flying from London airport to Spain, Italy and Turkey