Resale

The highest price, for villas and houses, is 3,500 euros per place.

17-09-2018

Accommodation places for holiday rentals that have been "for sale" since the moratorium on new licences was lifted at the start of August can be made available for resale.

The price of these places (beds) varies according to the type of accommodation - in general terms, villas and houses or apartments. The highest price, for villas and houses, is 3,500 euros per place. Apartments are 875 euros, and there is also a much lower price (291 euros) for accommodation that is subject to the sixty-day rule, i.e. properties cannot be rented out for more than sixty days a year.

The resale price will be up to the owner, so it could be higher than the one set by the tourism ministry. This resale will only apply to places available for licensing following the lifting of the moratorium. Holiday rentals that were already in existence are not included. The reasoning is that the new rentals places are being acquired from the stock of places that the government had established. With previously registered holiday rental accommodation, if an owner no longer wishes to use a property for this purpose, then the places disappear from the market.

Anyone who buys places through this resale procedure will still need to go through the procedures of ensuring that they meet licensing standards and requirements. The main difference will be that new owners don't have to pay the government.

In total, there are 20,000 holiday rentals places available in the stock. A further 10,000 will come on the market once the Council of Majorca's PIAT plan for intervention in tourism areas is definitively approved, which may not be for a couple of years.

There are also 10,000 hotel places. As with holiday rental places, hoteliers will be able to resell these.