IN response to the overwhelming pressure to hand over unused homes to the government, banks have started to sell or rent out vacant properties in Mallorca, Spain.
The Department of Habitat claims that a total of 1,039 homes were put on the market from banks last year, which is welcome news for the government due to the shortage of available homes across the island.
At present, the government has rolled out a waiting list for disadvantaged households, where families are able to pay a significantly reduced rent.
Minister Marc Pons has stated the greater need for social housing, where the government plans to double the number of available properties this year, from 1,800 to 3,600 with an additional 500 new homes expected to be built over the next four years.
A budget of €5 million has also been set aside to manage vacant homes, where part of the funding will be used to renovate sub-standard properties.
In 2019, the Department of Habitat had focused part of the daily efforts to carry out inspections on properties in aim of forcing banks and home-owners to register their empty apartments. For those that hid information from the government, they subsequently received a hefty fine.
This year, a proposal to regulate the rise in rentals will be also be submitted, after growing condemnation of the hike in prices last year, which soared high above the Spanish average.