The Government of the Balearic Islands has recently published the latest developments in reference to the tourism law in the Balearic Islands. The Balearic Government aims to guarantee the coexistence between tourists and residents in the islands and move towards a sustainable tourism model, which will give neighboring communities the appropriate instruments to solve any problems of coexistence.
The insular consells of Menorca, Ibiza and Formentera will decide the areas of these islands where the tourist rental of houses will be allowed, as in the case of the Consell de Mallorca. Meanwhile, the Palma City Council will establish on its own in which neighborhoods the city allows this type of rent. In the same way, it has been informed of the beginning of the processing of the preliminary bill that will regulate the tourist rental, in order to establish a real limit of tourist places, to order the tourist rental and to guarantee the access to the house.
Among the new exceptions are deleted in the exchange of places that had so far, everyone who wants to open a tourist establishment or commercialize tourist stays in a home must purchase the seats in the corresponding insular bag, provided there is available. In the case of multi-family housing, tourist places will be acquired for a term of 5 years renewable, provided the residential area in question is considered suitable for the marketing of tourist stays, according to the insular or municipal regulations. In addition, new commercialization of tourist stays in homes located on rustic land will be forbidden.
In all cases, housing must comply with a set of minimum legal, urban, sustainability and energy efficiency and tourism quality requirements. The web pages that sell tourist stays can only announce those houses that are legally registered. The Govern will reinforce the service of inspection of the rent and will raise the amount of the fines.
This context, in which there are very few new housing developments and tourist rental is triggering the quote of used floors. Both factors form a combination that explains that Balearics is the community in which the prices of the floors increase the last year, according to the data that yesterday made public the National Institute of Statistics (INE).
If you are thinking of rent a holiday villa to enjoy your vacation time or has a property in Mallorca and want to get a rental income don’t hesitate to contact us. Ripoll & Mateu Solicitors in Mallorca will advise and report you on the Law of Tourism and the situation of vacation homes in Balearic Islands.