Rental offer collapses in Mallorca
The majority of Spanish provincial capitals (32 of the 52) now have much less rental housing than there was a year ago. In the case of Palma, the drop is up to 30 percent.
The fall in rent in Spain has been evident in the last year. The supply of rental homes has decreased by 17 percent, nationwide during the fourth quarter of 2022, compared to the same quarter of 2021, according to a study published by idealista, the real estate Marketplace of southern Europe.
Despite the size of this decrease, the fall in stock is less than that registered in the third quarter, when the offer contracted 25 percent. The Spanish provincial capitals have considerably noted this decline. In the case of Palma, it is not one of the most affected capitals in this matter, but the drop reaches up to 30 percent.
At the Balearic level, the Islands are the seventh Spanish province where the supply of rental housing has fallen the most, reaching 21 percent.
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