Price rise 0.7% for the Balearics in 2014….

After 6 consecutive years of decline, the property prices in the Balearics closed 2014 with a 0.7% rise, according to the National Institute of Statistics.

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The rise is less that the national average (1.8%), but one has to consider that the average price of property has not fallen as much as the rest of Spain throughout the economic crisis.

In real terms, when looking at achieved sales prices for used properties, a 100,000€ property purchased in 2008 would cost 61,558€ today.  A new property bought in 2007 would be sold today for a price in the region of 79,643€ (according to the National Institute of Statistics).