Lack Of Rental Properties Pushing Up Prices In Coastal Areas of Mallorca

A severe shortage of rental apartments in coastal areas of Mallorca has pushed up prices, making it impossible for workers to find accommodation in Peguera, Cala Millor and Port d´Alcudia.    According to the latest figures from the College of Real estate Agents of the Balearic Islands, a one bedroom apartment in Platja de Palma costs around €900 a month, a 2-bedroom will fetch between €1,000 and €1,300 and a 3-bedroom can cost up to €1,800 euros a month.