Palma, Mallorca

Large property owners have been targeted by administrations.

09-10-2021Archive

According to the Land Registry (Dirección General del Catastro), there are 9,272 owners in the Balearics with more than ten properties, a figure which places the islands in the middle of the ranking of Spanish regions.

Of this total, 502 own more than 50 properties and 7,687 have between 11 and 25 properties. Almost half of all properties are in the hands of major property owners, mainly banks that take them over due to mortgage default.

The numbers highlight a hoarding of properties that has a subsequent impact on rental prices.

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Peter / Hace 3 months

So the way this reads is that there are over 25,000 properties owned by 502 entities - people or banks etc. - and approximately 100,000 properties are owned 7,687 entities. No wonder rent prices are high. Considering the population of approx 900,000 people that is enough housing for almost the entirety of the islands population. Go figure.

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