Finding an apartment in Palma de Mallorca has long since become a Sisyphean task. The latest data from the real estate portal Idealista, quoted by isla magazine, sheds light on the drastic situation: an average of 38 interested parties apply for every available rental apartment in the island's capital. This figure is significantly higher than the Spanish average of 27 applications per offer and illustrates the particular challenge faced by those looking for accommodation in Palma.
Idealista's data analysis also reveals that Palma is not alone. In Vitoria, a city in the Basque Country, housing providers only withdraw their advertisements after an average of 70 inquiries. Other cities such as Guadalajara and Santa Cruz on Tenerife follow with ratios of 1:59 and 1:44 respectively.
Rents in Spain have risen by an average of 12.6% in the last year, a trend that is being further fueled by inefficient housing policies. This policy has led to a shortage of supply, which means that more and more people looking for a home, especially families and low-income earners, no longer have a chance on the housing market.
Idealista spokesperson Francisco Iñareta emphasizes the urgency of the situation: "The only solution is to intensify state-subsidized housing construction." This is the only way to remedy the imbalance between supply and demand and ultimately stabilize rental prices. This drastic step seems unavoidable in order to relieve the tight housing market and create fair conditions for all those seeking accommodation.
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