Manacor becomes the pioneering municipality to host the first promotion of limited-price housing (VPL) in the Balearic Islands, a new type of affordable housing for residents regulated by the Emergency Housing Decree Law and Law 3/2024 promoted by the Balearic Government.
The development, carried out by the company Grup amb Tu, includes 10 homes already allocated to residents of the islands, most of them from the municipality of Manacor itself. Sale prices range between €119,000 and €164,000, representing an outstanding opportunity within the current real estate market in Mallorca.
Affordable housing from former commercial premises
The building, located in the heart of Manacor, has been converted from former commercial premises, a measure included in Law 3/2024 to make use of underutilized spaces and allocate them to housing. In total, apartments of between 45 and 55 m² of usable space have been created, each with one double bedroom.
The Minister of Housing, Territory and Mobility, José Luis Mateo, together with the Mayor of Manacor, Miquel Oliver, and the developer Germán Rocha Bentancur, visited the development during its official presentation, highlighting the initiative as “a good example of public-private collaboration.”
More limited-price housing projects in Manacor
In addition to this first development, Manacor will have a second phase of 18 homes ranging from 59 to 103 m², also promoted by Grup amb Tu. The regional regulations give priority to residents of the municipality itself and establish as a requirement at least five years of residence in the Balearic Islands to access this type of housing.
Grup amb Tu plans to develop up to 2,500 limited-price homes in the Balearic Islands, with a total of 47 developments distributed among different municipalities of Mallorca and the rest of the islands, through an investment fund aimed exclusively at residents.
Housing emergency plan in the Balearic Islands
The Balearic Government promotes this type of affordable housing as part of its emergency plan for access to housing, which foresees the creation of around 5,000 homes for residents through public IBAVI promotions, private initiatives and other collaboration programs.
With this first promotion in Manacor, a significant step is taken towards the supply of affordable housing in Mallorca, in a context marked by the growing difficulty of accessing housing in the islands.
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