IT’S the postcode lottery with real-life consequences – the stunning income gap between the richest and poorest residents of Palma has been laid bare.
Residents in Sant Jaume, Palma’s swankiest neighbourhood, are raking in an average of €69,523 a year, while those living just a few miles away in El Arenal are scraping by on €25,607, or 63% less.
That’s a €43,916 annual gap, according to newly released figures from Spain’s tax agency based on 2023 income declarations.
With its historic mansions, high-end boutiques and posh eateries, it’s no surprise that Sant Jaume has taken the crown as Palma’s wealthiest barrio, seeing an 8.2% bump in income since last year.
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Just behind it are Monti-Sion (€54,793) and Son Dureta (€47,928), where well-heeled residents live in leafy enclaves far removed from the city’s economic struggles.
Meanwhile, at the bottom of the earnings barrel, El Arenal is battling it out with other lower-income areas like Son Canals (€25,925), Son Cladera (€27,109), and Pere Garau (€29,111).
But one area is seeing a rapid transformation – and it’s catching everyone’s attention. Nou Llevant has recorded the biggest income jump in the city: a 14% increase compared to 2022, bringing average income to €35,102.
What’s behind the boom? Locals point to the influx of residents snapping up swanky new builds in the so-called ‘Nou Portitxol’ area – transforming what was once a humble working-class neighbourhood into the latest luxury hotspot.
Now, two very different Palmas are colliding: one of struggling long-time locals and another of moneyed newcomers buying up modern flats with sea views.
Palma’s Rich-Poor Divide in Numbers
Here’s how the rest of Palma’s neighbourhoods stack up:
- Cala Major – El Terreno: €45,097
- Centre Mercat: €43,578
- Centre Sant Jaume: €40,952
- Son Rapinya: €40,713
- Son Sardina: €39,317
- Can Pastilla: €36,694
- El Fortí – Son Ximelis: €35,412
At the tail end:
- Cas Capiscol: €33,926
- Es Portitxol: €33,375
- Son Oliva: €33,146
- Son Ferriol: €31,533
- Coll d’en Rebassa: €29,022
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