The ‘Shared housing in Spain in 2024’ study found that the price of an average room rose from 489 euros per month in December 2023 to 574 euros per month in December 2024
Living prices are shooting up in the Balearic Islands, prompting fears more anti-tourist protests could break out.
According to Menorca, “accessing a home in the Balearic Islands has become a practically impossible mission” – in no small part because the average price of a room in a shared flat shot up 17.5% in 2024, ending on 574 euros per month.
The ‘Shared housing in Spain in 2024’ study found that the price of an average room rose from 489 euros per month in December 2023 to 574 euros per month in December 2024. In Spain, only Catalonia, where 636 euros per month are required to rent a room, and Madrid, with 586 euros, are more expensive. Both of those areas have significantly higher average salaries than the Balaerics.
María Matos, director of studies and spokesperson for Fotocasa, told Menorca: “The price of a room in a shared home in Spain has already exceeded 500 euros on average for the first time in its history . This means that tenants have never had to face such high costs as now. In general in Spain, the increase in the rent for a whole home has been greater (14%) than for a room (11%) because the supply of rooms has increased significantly. However, this is not enough, since the demand for this type of accommodation has also increased, because more and more tenants are forced to share a home to reduce their salary burden . The highest prices correspond to the most stressed cities.”
The price rises may not be an immediate concern for holidaymakers looking to spend just a week or two in Balearic Islands such as Ibiza or Majorca, although the price rises are likely to be reflected in Airbnb and other holiday let costs to an extent.
The larger concern may be that anti-tourist protests have been directly linked to the cost of living, specifically rising rents. Across mainland Spain and the island chain, demonstrations against ever-growing tourist numbers have occurred regularly since 2023.
Last year a Majorcan political party announced plans to “degrow” tourism on the Balearic Islands with a 40 per cent cut on tourist accommodation. Més per Majorca tabled strict new measures to the Balearic government in October, designed to significantly reduce overall tourist numbers.
As well as a 40 per cent reduction in tourist housing, it wants an annual cap on the number of holidaymakers permitted to visit the islands. Més per Majorca asked the government to use some of the takings from its Sustainable Tourism Tax to acquire tourist accommodation before returning them to the rental market, the Independent reported.
Més for Mallorca spokesperson Lluís Apesteguia said: “The containment measures announced by [president of the Balearic Islands] Prohens are insufficient in the face of the collapse situation we are living in, it is essential to make policies to reduce tourism and economic diversification.”
