The construction of multi-family houses has dropped by 22% in Mallorca in the last year, while the construction of single-family houses with a high budget has increased by 7.5%, according to the latest data presented by the Official Association of Architects of the Balearic Islands (COAIB)
While throughout the Balearic Islands the number of houses and villas for buyers with high purchasing power is increasing, there continues to be a critical lack of affordable housing. This is the warning call of the Official Association of Architects of the Balearic Islands (COAIB), which today released the latest building data.
Construction has continued to increase in Mallorca in the last twelve months, but the pace is slowing. According to COAIB data, they have increased by 2.7% in August in year-on-year terms. Most of the works have been for housing, despite being down 7.8% on 2022. The total budget was 1,009 million euros, down slightly by 1.3%.
Construction of luxury housing on rustic land increases by 75%
In fact, the construction of multi-family housing has dropped by 22% in recent months. This contrasts with an increase of 7.5% in single-family homes -many of these high-budget and on rural land- which have surpassed the number of developments of blocks of apartments. In the case of Mallorca, these homes have been built in the municipality of Santanyí.
The Association also highlights that the construction of multi-family subsidized housing, the most affordable, has fallen by 65% in one year in Mallorca, according to data from the Balearic Housing Institute (IBAVI).
In this sense, the measures initiated by the Government to facilitate the construction of affordable housing are going in the right direction, according to the architects. But they demand that they be applied taking into account the specificities of each area and demand the creation of a Housing Observatory to be able to design long-term policies.