Despite the ban on tourist rentals in multi-family homes in Palma, there are more than 300 properties on offer for this summer on Airbnb and they’re not cheap either. The average price is 250 euros a night and there are properties spread all over the city, including in Nou Llevant and Son Gotleu.
Hundreds of tourist rentals in Palma on Airbnb
Tourist rental rules being tightened in Palma
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Yes, long term rentals are very risky. I wouldn't do it unless I knew the tenant very well. Even then... Probably not.
Even if people can't let via Airbnb, they will not let it to Spanish workers on the island unless Spain change the rules to for sure get people out after the rental agreement has ended. That's not the case now, so it means plenty of properties will be empty when the owners are not present