Headline : Mallorca rents go through the roof

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Finding a rental property in Palma is a major struggle for most people. | Majorca Daily Bulletin reporter

The price of rents in Palma have gone through the roof: only 0.2% of properties cost less than 900 euros per month, the limit set by the Balearic government to be help young people benefit from the Bono Alquiler Joven 2024, government cash to help people rent a poperty. According to the real estate platform Fotocasa there are no rental properties available for less than 600 euros per month.

One of the requirements for applying for the public aid is that the maximum amount of rent for the property does not exceed 900 euros per month, although in other more economical regions it is 600 euros. At a national level, according to the real estate portal’s October data, only 6% of the housing offer for rent is below 600 euros and 31% is below 900 euros. In addition to Palma, other cities where there are no properties that can be rented for less than 600 euros are Pamplona, San Sebastián and Vitoria. For its part, Barcelona only has 0.1% of flats for rent for less than 600 euros per month; Madrid, 0.3%; and Valencia, 0.4%.

On the other hand, among the cities with the highest availability of homes for rent for less than 600 euros are Palencia, with 55%, followed by Ciudad Real, with 52%. The list of provincial capitals is completed by Jaén, with 48% of properties for rent below the aforementioned price; Zamora, 37%; Lugo, 36%; and Badajoz, 30%.

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