The latest Housing Census from the National Statistics Institute shows that of 652,123 dwellings in the Balearics, 210,537 are not used as main residences.
Conducted every ten years, the INE census for the Balearics points to the total number of dwellings having increased by 65,141. Less than a fifth of these - 11,799 - are used as main residences. The rest are either second homes, are rented out to tourists or are empty.
Data from the INE indicate that the number of unoccupied homes has risen from 71,255 ten years ago to 105,434. Some researchers have suggested that this figure is higher.
In respect of what the INE terms 'secondary' homes, there are now 105,103, whereas there were 85,717 ten years ago. Secondary covers both second homes and those for rent to tourists.
There is a separate figure for residential renting. Of the over 440,000 'main' homes, 103,526 are classified as being for this purpose.
The Balearic government, conscious of a housing emergency on the islands and of the problems experienced with accessing housing, wants to obtain reliable data. The INE's figures are open to question, and so the 2024 budget includes provision for a housing observatory.
This observatory, something which has been called for by the real-estate sector, will come up with its own data. The intention is to get a true picture of the housing situation.
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Empty properties fuel rising house prices as there are fewer available for the people living and working in Mallorca. It is a simple answer and not difficult to get your head around. Leaving them empty as they can't afford the taxes or can't agree on the sale price (nepotism at it's best) is fixable. The state should set a price and make them sell to them for renovation and renting out to those in need.
Adam OstenfeldAlso, the taxes demanded by the authorities are sometimes more than the property is worth or more than the owner can afford. Charles, my observation would be that the majority of DB readers are very much to the left and disagree with capitalism. The Spanish ones dislike foreigners, in particular the English, and feel that the properties they own should only be made available to them. Similar I suppose to what British residents of upmarket seaside or lakeside towns feel about wealthy urbanites buying properties and then using them only very occasionally.
There are several reasons for this situation in Palma and outside , It often happens that local legislation is very complex and difficult to understand , many of these properties are owned by families with several brothers and sisters and they disagree about the sale price in many cases after years of disrepair the cost of rebuild is too high it’s a shame but this is and has been a problem for as long as I can remember .
Donald JumpExactly. I'm waiting for someone, anyone, to give me a reason. No one has and I honestly don't think there is one. The subject comes up all the time in the media and it's a horse that the anti-foreign buyers love to flog. But they never explain why it's an issue or a problem for them. Maybe the 8 readers who didn't like my comment could enlighten us?
Charles Dalrymple-ChumleyAs much as I want to find a reason that it should matter. I cannot. In a free market, people should be left buy and own what ever they want.
Anyone surprised at that, I think not.
Does it matter? If so, why? If homes are empty or occupied what's the difference?