High rents: The big dilemma with affordable housing in Mallorca continues to grow
The location on the real estate market Up Majorca worsened again in 2022. There is almost no affordable housing for ordinary families on the island. It is especially bad for low-income earners to find anything.
The data on the house price index published by the Spanish statistical office INE is also clear. Nowhere in Spain is living space as expensive as in Mallorca and neighboring islands.
In the period between July and September, prices increased by 8.3% compared to the same period last year. If you want to buy an apartment right now, I have to adjust to an average price per square meter of 3,082 euros.
Login to real estate market has long been an important argument between politicians and the population of Mallorca. Only now has it been decided that citizens will be supported in the purchase of a property by having the State act as guarantor for the mortgage. Furthermore, discussions are underway to make it more difficult for foreigners to access real estate in Mallorca and neighboring islands. This even goes so far that foreigners should no longer be allowed to buy real estate.
