A sign that there is reactivation of tourism is coming from the property rental market. In Mallorca’s resorts, the recovery is still only gradual, but workers are arriving for the season and renting accommodation.
The president of the College of Real Estate Agents in the Balearics, Natalia Bueno, says that demand has picked up over the past fortnight. As for prices, she says that there is “sufficient offer” and that people can choose. In general, flats are going for some 600 euros a month, an affordable rent compared to before the pandemic, when it was difficult to find anywhere to rent.
Many of the properties have been empty for more than a year, owners having taken the opportunity to carry out improvements. The typical profile of tenants, Well explains, is an employee with a ‘fixed discontinuous’ contract who has been on ERTE but who has come to work in Mallorca for the past twenty years.
There is certainly no problem with finding accommodation right now, and the same applies for people looking for long-term rental. There can even be price reductions of up to ten per cent because of the availability. This said, owners are more demanding. Their preference is for people with permanent or ‘fixed discontinuous’ work contracts and who don’t work in the hospitality sector. Owners fear that someone in hospitality won’t give them “a guarantee of continuity”.