NEWSDESK

PALMA
THE head of the association that represents property developers on the islands has hit back at the “hostility” towards the sector among certain groups of opinion.

Gabriel Oliver, the President of the Association of Balearic Property Developers, also rejected suggestions that developers were to blame for the rise in house prices.

Speaking at the dinner held after the annual general meeting of the associaton, attended by among others, the Mayor of Palma, Aina Calvo, he said: “Our activity makes a valuable contribution to society through financial investment, fundamental to the maintenance of the public institutions and social spending.” “A great part of the cost of housing comes from the high system of taxation,” he added.
Oliver also recognised the need to work with the public authorities to minimise the effects of the current economic cycle in the Balearics, which was affecting growth rates, projects in development and was leading to higher levels of unemployment in the construction sector.

Oliver called on the public administration to introduce a package of measures to reactivate the activity of the sector including quicker processing of permits.

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