Mallorca rents go through the roof

One of the requirements for applying for the public aid is that the maximum amount of rent for the property does not exceed 900 euros per month, although in other more economical regions it is 600 euros. At a national level, according to the real estate portal’s October data, only 6% of the housing offer for rent is below 600 euros and 31% is below 900 euros. In addition to Palma, other cities where there are no properties that can be rented for less than 600 euros are Pamplona, San Sebastián and Vitoria. For its part, Barcelona only has 0.1% of flats for rent for less than 600 euros per month; Madrid, 0.3%; and Valencia, 0.4%.

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On the other hand, among the cities with the highest availability of homes for rent for less than 600 euros are Palencia, with 55%, followed by Ciudad Real, with 52%. The list of provincial capitals is completed by Jaén, with 48% of properties for rent below the aforementioned price; Zamora, 37%; Lugo, 36%; and Badajoz, 30%.

In view of this situation, María Matos, Director of Studies and spokesperson for Fotocasa, maintains that “if the aim is for the Bono Joven to reach those who need it most, it would be necessary to review and extend the monthly payment limit, as the average rental price in Spain already exceeds 1,000 euros. Therefore, a large number of young people will not be able to apply for it because their rent exceeds 600 euros or 900 euros, depending on the autonomous region in which they live”.
He argues that “if we take into account the significant increase in the cost of renting, we can see that there are fewer and fewer homes on the market that are offered for 600 euros or 900 euros.”