Through the roof

THE price of coastal property in the Balearic Islands has increased by 5.8 per cent over the last year.

Only Malaga (7 per cent) and Granada (6.8) in Andalucia and Guipuzcoa in the Basque Country (6.2) have become more expensive in this period in Spain.

According to a report by a leading valuation company, the Balearic Islands are the second Spanish area with the most expensive housing on the coast ­ after the aforementioned province in the Basque Country ­ and also one where the rate of price in­ crease remains the highest.

Seafront housing in up to 14 towns in the Balearics is currently the dearest it has ever been, with Manacor, ses Salines, Llucmajor, Campos and Arta accounting for the sharpest price hike in coastal property over the last year.

On the other end of the scale, prices in Calvia actually dropped in this period, although this should be taken with a pinch of salt as it is the Mallorca town with the highest average price per square metre€3,189.