3,477 euros, the salary you need to have to buy a flat in Palma
City is the fifth state capital where more income is needed to access an apartment through a mortgage
PalmaTo buy a 100-square-meter home in Palma, you need a net monthly salary of 3,477 euros. This figure places the Balearic capital as the fifth city in Spain where more income is needed to access a flat through a mortgage and, once again, highlights the growing gap between the real estate market and the salaries of the resident population.
This is according to a report published this Wednesday by Accumin Intelligence, the subsidiary specialized in data and artificial intelligence of the appraiser Tinsa, which has analyzed 60 Spanish cities. The study calculates what net family salary is necessary to buy a typical 100-square-meter home with a mortgage covering 80% of the property's value and with a monthly payment equivalent to 35% of income.
On average, in Spain, a net monthly salary of 1,999 euros is required to acquire a home under these conditions. Palma exceeds this figure by almost 74%.
Only four cities have higher salary requirements than the Balearic capital. Leading the list is San Sebastián, which requires 5,074 euros per month, followed by Madrid, Barcelona, and Bilbao. At the other extreme is Zamora, considered the most affordable capital, with 1,279 euros per month.
The report identifies Palma as one of the Mediterranean coast markets where international demand plays a decisive role in price evolution. According to the authors, cities like Marbella, Benidorm, and Palma itself are registering a real estate dynamic increasingly detached from the purchasing power of the local population.
In total, there are 14 Spanish cities where a net family salary of over 2,500 euros per month is required to buy a 100-square-meter home. These are mainly capitals and metropolitan areas with a high concentration of demand, driven by factors such as economic activity, job creation, and administrative functions.
The study also highlights territorial differences. While cities in the peninsular interior concentrate the most accessible markets, with cases like Zamora, Lugo, Ciudad Real, and Palencia, the main areas of tension are found in large capitals and tourist destinations with a strong presence of foreign buyers.