The Balearic market complicates access to the Government’s mortgage guarantee: only 17% of flats offered are below 270,000 euros | Present

Palma

The Balearic housing market will not make it easy for those who want to take advantage of the Government’s initiative to guarantee 20% of the first mortgage. in the main real estate portal, Idealista, only 17% of the homes advertised for sale have a price of less than 270,000 euros. This figure is the maximum limit to which you can aspire to have the guarantee, but that does not mean that the bank will grant the mortgage for this amount.

Today in the Balearic Islands 28,864 homes are advertised. Of these, only 5,081 are advertised for 270,000 euros or less, barely 17% of the total. By island, the situation varies substantially. The worst stop is Formenterawhere there are only three homes below that price, out of a fairly low total that slightly exceeds the 130 offered.

Ibiza It barely has 5% of the houses published for that price. There are 129 of a little more than the 2,400 that are announced. Mallorca It is the one with the greatest total housing offer, with 23,524 properties for sale, but with only 17% below the maximum price of 270,000 euros. There are only 4,151 properties. Minorca It is the island that has a greater range of housing below 270,000 euros. It has 29% of its park offered below that price, 801 homes of the total 2,662 on offer.

If we look at the Balearic capital, the city is situated in the Balearic Islands average with 17% of the properties below that price. Yes indeed, The 1,194 homes that could benefit from the Government’s initiative are concentrated in specific areas: most are located in Son Gotleu, Pere Garau, La Soledat, Son Roca, La Vileta and El Rafal.