The Balearic government is preparing legislation by which plots that are owned by the Ibavi housing agency will be offered to developers for free.
Under this scheme, developers which make bids will set prices for making properties available for rent and establish quality criteria. Awards will be based on the best price-quality ratio. The developer would then manage the properties and have the rent revenue. It would be a form of concession that would last for 75 years, at the end of which the properties revert to the government.
For the government, this would achieve two objectives. One would be not incurring the costs of building; the other would be a general reduction in the cost to rent. The scheme would be in accordance with proposals for private-public cooperation that the housing ministry is keen to promote.
Some developers are said to have already shown an interest at meetings held with Marc Pons, the housing minister. The government, through Ibavi, have a number of available plots, some of which have been ceded to the government by town halls. It is hoped that the first tender will be issued later this year.
At present, Ibavi has some 1,800 properties. The aim is to double this number during the period of the current government up to 2023.
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