Mallorca property rental rates hit record high
“We have never seen such a significant rise in prices as in the last two years."
Humphrey Carter29/07/2024 11:28 Report your neighbours if they are renting out their homes illegally to tourists, says Palma residents association in new tourism twist
Illegal holiday lets blamed for tourist overcrowding
Life in a caravan for Mallorcans who can't afford the rent due to tourism
Anti-tourism activists in Spain say visitors drive up housing costs and lead to residents being unable to afford living in city centers.
Housing crisis in Spain's cities drives rise in homelessness as tourism booms
According to a Bank of Spain report, about 45% of people living in rented accommodation are at risk of poverty or social exclusion, the highest proportion in Europe.
3,000 empty homes in the Balearics for rents 30% below market rates
Guarantees for rent payments and keeping properties in good condition.
Spanish blow the lid on how to really enjoy Mallorca on the cheap
"You go to Mallorca to party without booking a hotel and use Burger King loos to get ready.”
Balearic housing - Fewer owners, more tenants
Over a ten-year period the number of properties with tenants increased by more than 10,000.
Balearics housing emergency decree not having much impact
So far, there are only 40 'limited-price housing' projects for the conversion of commercial premises.
Household spending in the Balearics is the highest in Spain
In 2023, average spend for mortgage/rent and bills was 29% higher in the Balearics than in the rest of Spain.
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- Russian-owned Black Pearl in Mallorca
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