Land prices jump up in Balearics

LIVING in the Balearic Islands is getting increasingly more expensive as the average price of a square metre of urban land grew by 9.4 per cent during the first three months of 2015.
A square metre now costs €255.60, according to the data released by Development Ministry, which shows that the figure represents 19.5 per cent increase if compared with the last three months of 2014.
The number of purchases and sales carried out in this period amounted to 91, 6.2 per cent fewer than the year before and 41.7 per cent fewer than the previous three months.
The total value of these transactions was €23.5 million, 23.3 per cent less than the year before and 52.6 per cent less than the last three months of 2014.
In national terms, the average price of a square metre was €149.90 in this period, 5.9 per cent more than the year before.