Proposed Housing Regulations in Majorca Spark Protests
In Majorca, a proposed 'five-year rule' aiming to limit the influx of UK tourists and foreign investors buying second homes has brought 10,000 protesters to the streets. On May 25, 2024, demonstrators gathered in Palma, Majorca's capital, urging immediate governmental action to address the local housing crisis.
The Banc de Temps de Sencelles, a neighbourhood organisation, led the protests, presenting a manifesto with seven measures to improve housing affordability. Key proposals include declaring a housing emergency, limiting rental price increases, suspending tourist rentals, and offering housing rehabilitation aid. They also seek to restrict property purchases to residents who have lived on the islands for at least five years.
Javier Barbero, spokesperson for Banc de Temps, highlighted the severe housing challenges exacerbated by the pandemic, which saw rents increase significantly. The Balearic Association of National and International Real Estate Agents (Abini) noted that property prices, averaging 18 years' worth of salaries, and the influx of 20 million tourists annually, complicate home-buying for locals.
Tourism, which constitutes 45% of the islands' income, remains a contentious issue. While the protests have pushed for a rethinking of the tourism model, Barbero emphasized that local citizens are not entirely against tourism but seek a balanced approach that preserves affordable housing for residents.