Balearic housing - Fewer owners, more tenants
The government has a plan for renting out empty properties
The increase in tenants is Balearic-wide, not just in Palma. | Alejandro Sepúlveda
Palma09/07/2024 07:01Updated at 07:37
According to latest figures from Spain's National Statistics Institute (INE), there were 441,536 main residences in the Balearics in 2021. Of these, 292,570 were lived in by owners, 66%.
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3 comments
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I'm pretty sure the law won't change, so rental properties will not increase in numbers, no matter what the Councils will suggest. It's a pipedream.
This is exactly why owners won’t rent out their properties. They have no rights - who in their right mind would give away their property for free??? Until the law protects landlords, there will be a shortage of affordable housing for rent. It’s simple. Really sad that honest renters and honest landlords are trapped in this vicious cycle. But - like Tim said - the only way out is to make the law fair. Don’t hold your breath
This is the same as the Junta de Andalucia they have enacted such policies to try and solve the housing crisis. However, the Junta often renegades on financial promises leaving landlords with costly legal disputes. Unless the Spanish courts start to act in the interests of landlords, I feel there isn´t going to be much interest in letting out properties for long term rentals. All rights are with the tenants even if they haven´t paid rent in over 2 years. Eviction is almost unheard of even if the landlord can prove the tenant has the ability to pay rent. Once the tenant moves in, they will claim "vulnerability" it´s impossible for the tenant to get the property back leaving them liable for utility bills, property costs etc.