An estimated 100,000 empty homes in the whole of the Balearics. | S.B.


The National Statistics Institute estimates there are some 100,000 empty homes in the Balearics, approximately one-sixth of the entire housing stock. Getting even a percentage of these empty homes onto the market would help to alleviate housing problems on the islands, and so the government will be launching a scheme for rented accommodation that will involve it acing as if it were a letting agency.

Referred to as Alquiler Seguro (safe or secure rental), two key measures will be a guarantee of rent payments at market prices to owners and a guarantee that properties will be returned in the same conditions as when they were introduced into the programme. The prices will vary depending on the market situation in individual municipalities.

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The government hopes that this plan will persuade owners to make homes available for rent by removing concerns that tenants default on payments and become squatters. It will establish arrangements with estate agencies or property management companies for payments to owners.

Under the scheme, properties will need to have been empty for at least six months, they must be in good condition to be rented out immediately and be at least three years old. They must also be for permanent, residential rental, thus removing the possibility of being tourist accommodation.

Excluded from the programme will be properties belonging to large property owners, e.g. banks or investment funds.