IT is estimated that the Balearic Islands has 71,255 empty properties, which could be generating millions of euros in revenue.
The data, provided by online student housing site Uniplaces, has shown that there are 16,396 empty homes only in Palma de Mallorca, a figure that translates into 9 per cent of the Islands’ total. They also warned that the benefits generated by renting these properties could be up to €4.8 million per month.
“In a university city like Palma de Mallorca it is very easy to find students to rent flats and rooms,” said Uniplaces representatives in a statement, which continued: “students are one of the best groups to rent out flats, as they pay on time and stay for long periods of time, coinciding with academic years.”
The Balearic Islands’ empty homes amount to 2.1 per cent of the national total. According to Uniplaces, these properties could be generating total revenue of more than €20 million.