Living Mallorca comes at a price.

Living Mallorca comes at a price. | Majorca Daily Bulletin reporter

Humphrey CarterPalma28/02/2025 11:39
TW
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The financial challenges young people face trying to either rent or buy a property in Mallorca are well known, but now pensioners are feeling the pinch and there is an exodus to the mainland where the cost of living is much cheaper. Affordable rental properties are snapped up in less than 24 hours in Mallorca with an average of 30 people pouncing on every property which comes on to the market.

And according to the UGT Retirees and Pensioners Union in the Balearics, many of its members who came to work are now returning to their places of origin, where they can lead a much more comfortable life. And there are even islanders who are moving to the mainland, especially to areas in the north, where housing is much cheaper.

Furthermore, pensions in the Balearics are, for example, 444 euros lower per month than in the Basque Country. If the young and the retired are being financially forced out of Mallorca and the Balearics in general, this is going to destroy the social fabric of the islands. Families will be broken up, parents and grandparents unable to remain with their family and help look after the children - a key factor to the traditional way of life. Considering the amount of wealth that is generated in the Balearics, I find the imbalance rather unfair and worrying.