According to the Balearic association of builders, the number of new homes built per annum over the past fifteen years has not exceeded 4,000. Ideally, given current demand, there should be at least 7,000 a year.
Speaking on Wednesday, the association's director, Sandra Verger, said that what is being built is not affordable housing. The president, Fanny Alba, added that the problem has been getting increasingly worse. There is a current deficit of some 35,000 homes in the whole of the Balearics.
Given population projections from the National Statistics Institute, Alba explained: "Over the next 13 years it would be necessary to put 10,300 homes on the sale and rental market annually in order to balance supply and demand with the increase in population."
In 2023, there were 3,292 new homes. Going back to the pre-financial crisis housing bubble of 2006 to 2007, some 30,000 were built, and on average the prices were a third of what they are now.
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Becoming or become the Dubai of the Med.
WELL said and the island needs 10.000 more small starter homes right away. The businesses run profitably and create new jobs every year but the extra workers needed can not find affordable accommodation for several reasons, the planning rules throughout the island favor family size flats and detatched family homes, The rules forbid building one bedroom flats and studio apartments. The planners provide vast tracts of land for business and industrical parks (poligonos) but do nothing to let the developers build the new housing required. In Ibiza the situation is much worse, Many high earners have to go for the canpervan solution. The urban planners ruled out years ago the provision of campervan parks. On the other hand, there is an ample supply of luxury villas as second homes. The planners and politicians are to blame-