Balearic homes take 12.2 years’ pay to buy
Mallorca and the rest of the Balearic Islands face a steep housing figure: buying a 90-square-metre home on the open market takes an average of 12.2 full annual salaries across the islands. The figure covers the second quarter of 2026 and comes from a report presented on Friday, 23 October, by the Comisiones Obreras (CCOO) trade union. Across Spain, the average is 7.1 annual salaries.
House prices pull away from wages
Across Spain, home purchase prices rose 108% between the second quarter of 2013 and the same period in 2026. Average wages rose just 30% in nominal terms. Prices therefore climbed 3.6 times as fast as wages, according to CCOO.
The union says the gap wipes out wage gains and holds back spending. Its Balearic figure shows how much harder buying has become on the islands than the national average suggests.
New rents add to the pressure
New rental contracts in the Balearic Islands became 48% more expensive between 2015 and 2024, compared with a 37% rise across Spain. CCOO cites figures from Spain’s National Statistics Institute.
The union wants rental contracts extended and rules for holiday, seasonal and room lets. It also cites housing costs among the reasons for a general strike called with other unions for 11 November.
Source: Europa Press / Mallorca.com