The objective of the Housing Law was for the properties to be sold or rented to alleviate the shortage of homes available in Majorca

The objective of the Housing Law was for the properties to be sold or rented to alleviate the shortage of homes available in Majorca.

02-01-2020ARCHIVO

Banks have started selling or renting their empty apartments so they don't have to give them to the Government.

The Habitat Department claims that many of the homes registered last year are already on the market because large holders have chosen to move assets under pressure from the Government.

The news has been welcomed by the Government because, it says, the objective of the Housing Law was for the properties to be sold or rented to alleviate the shortage of homes available in Majorca.

People who are currently on the waiting list for a home will pay a reduced rent and the Government will pay the difference.

Objective: 1,800 habitations

The Habitat Minister, Marc Pons, says the Government wants to double the amount of public housing, from 1,800 to 3,600 and at least 500 new homes are expected to be built over the next four years.

A budget of 5 million euros has been set aside to manage homes that have not been sold or rented and some of the money will be used to renovate properties that are not up to standard.

In 2019, the Habitat Department stepped up its inspections to force banks and property owners to register their empty apartments and some owners were sanctioned for hiding information about their empty properties.

The Government also plans to introduce new regulations to limit the hike in rental prices and cap rents in areas like Palma and Ibiza, where rental prices have soared way above the Spanish average in recent years.

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