According to a report by the Idealista property website, 38 potential tenants are interested in every advert for a property to rent in Palma.
From a national list of cities, Palma has one of the highest levels of demand (as well as the least supply). In Vitoria, Basque Country, the ratio is seventy to one. Then come Guadalajara (Castile-La Mancha) with 59 to 1; Santa Cruz de Tenerife, 44 to 1; and Las Palmas de Gran Canaria and Pamplona (Navarre), both with 41 to 1.
At the national level, Idealista ads for properties to rent in the first quarter of 2024 received an average of 27 contacts, a figure that is 55% higher than for the same period of 2023. The increase in demand led to rental prices rising by an average of 12.6% in Spain last year.
Idealista spokesperson Francisco Iñareta, says that the figures show that "the destruction of supply caused by rental policies continues to worsen the possibilities of accessing housing, with a special impact on young people and vulnerable families". "We have the same or more families looking for a home, but fewer and fewer are offered."
The focus of rental policies, he adds, should be on increasing the supply of housing and on "reducing family anxiety and price".