From 800 to 1400 euros: rent has gone up almost 70% in the Islands in just three years

PalmaHousing has returned to be the center of the debate this Tuesday in Parliament. All left-wing parties have pressured the Government during the parliamentary session to demand rent price controls. According to IBAVI data that the Housing Ministry has provided in a written response to the PSIB, prices have gone from an average of 834 euros per month in 2022 to 1390 euros per month in 2025, a 66.7% increase in just three years.

By islands, Ibiza continues to be the most strained. In 2022, a rent in this territory was worth 1184 euros on average, and now it has climbed to 1978 euros per month: 67.1% more. In Mallorca, the figure has gone from 834 euros on average in 2022 to 1403 in 2025, an increase of 68.1%. However, the highest increase is that of prices in Menorca, where in 2022 they were 607 euros per month on average and now they are 1040, a price hike of 71.3%.

The number of contracts is falling

Conversely, the number of contracts in the Islands has decreased. In 2022, 5,685 were registered, and by 2025 there were already a thousand fewer, 4,510, a decrease of 20.67%. Thus, in Mallorca it went from 4,015 contracts to 3,433 (14.47%); in Menorca, from 1,027 to 690 (32.8%), and in Ibiza, from 606 to 372 (38.6%).

PSIB deputy and member of the Board Mercedes Garrido highlighted these figures during the plenary session. "Long-term contracts have fallen by 20% between 2022 and 2025," she stated, and lashed out at the Government for "giving wings to vulture funds, to speculators, because the Consolat is a nest of vultures." "In Ibiza, 95% of homes under one thousand euros are seasonal rentals," she continued, and referred to an Idealista advertisement: "950 euros for the rent of a shared room, and on top of that it said it had two beds."

The PSIB presented a bill this Tuesday to demand that the Government declare the Islands a stressed area, which would allow them to limit rental prices. The Minister of Housing, José Luis Mateo, has once again ruled out this possibility. "We have defended an improvement of the Urban Leasing Law (LAU) since the beginning of the legislature," he said: "The difference is that we are committed to incentivizing and you are committed to prohibiting or criminalizing." He also demanded that the "anti-squatting law" be unblocked in the Congress of Deputies: "Mrs. Armengol has it kidnapped."