More than 8,200 homes are currently under construction, and another 2,000 are expected to be added to the total over the next two years
PALMA, 22 (EUROPA PRESS)
The economy of the Balearic Islands grew by 2.8 percent during the third quarter of the year, above the national average, driven mainly by the services sector and with a "significant" boost in the construction sector, which grew by 4.6 percent.
This is reflected in the economic analysis for the third quarter of the Balearic Islands, presented on Thursday at a press conference by the Vice President and Regional Minister of Economy, Finance, and Innovation, Antoni Costa, and the Director General of Economy and Statistics, Catalina Barceló.
By sector, the growth rate exceeded 2 percent in all sectors, except for agriculture and fishing (2 percent) and industry and energy (1.1 percent). The services sector grew by 2.7 percent and the construction sector by 4.6 percent.
MORE THAN 8,000 NEW HOMES HAVE BEEN STARTED
New construction permits during the first half of 2026 have "soared"; specifically, they have increased by 51.3 percent, reaching 2,907, five times the state average. "We have never seen anything like it," the regional minister highlighted.
On the other hand, the number of completed homes fell by 17.5 percent to 900 during the same period. The vice president noted that these housing units were started during the first half of 2024. Therefore, he predicted a "significant increase" in the number of homes that will be completed over the next two years.
According to the Regional Ministry's study, the estimated number of homes under construction during the first half of the year stands at 8,262, representing a 36.6 percent increase compared to the same period in 2025.
Additionally, the director general highlighted that the outlook for new housing is "very positive," as between April and October of this year, the Official College of Architects of the Balearic Islands (COAIB) registered 2,077 building permits, a 10.8 percent increase compared to the previous year.
