Rent, Palma is the third most profitable city to buy a flat to rent
Rent – Palma is the third city where the investment of buying a flat to rent is faster, with a term of 18.77 years, behind Barcelona (15.28 years) and Madrid (18.28), according to a study made by the website Homa Inmobiliaria.
Having a house for rent in the Balearic capital offers a gross return of 5.33%, according to the “Report on the Price of Housing in Spain”, corresponding to the first quarter of 2017, the entity has reported in a statement.
The most profitable to buy a flat to rent are Barcelona (6.54%), Madrid (5.47%) and Palma (5.33%).
According to the study, the Balearic Islands is the second most expensive community in Spain to buy a home, with a price of 2,132 euros / m² in March, and is among the most expensive of the national group to rent, with an average of 1,160 euros, below of Barcelona (1,164 euros) and above Madrid (1,021 euros).
San Sebastian is the most expensive city in Spain to buy a flat. The capital of San Sebastian registers a price of 3,228 euros / m2, followed by Bilbao (2,720 euros / m2), Madrid (2,253 euros / m2) and Barcelona (2,220 euros / m2).