The Balearic Government's housing ministry has approved the Son Bordoy development project in Palma. This is in an area between El Molinar and the motorway, and the plan is for 750 new homes.
Of these, a third will not be subject to any price constraints under government schemes. 150 will be publicly subsidised and controlled by the VPO protected housing regime. The remaining 350 will be 'price-assessed'. In other words, they are likely to come under the separate government scheme for 'limited-price housing'. While these homes are below market price, they are typically around 30% more expensive than VPOs.
This is a long-standing project, which was originally covered by a 2008 law. Classified as a 'strategic land reserve', the developer behind Son Bordoy is Pryconsa, which is also developing another strategic land reserve in Palma: Son Güells. Its apartments are now on sale from €429,000, with delivery scheduled for 2027. The apartments will feature two, three, and four bedrooms in a complex with green areas and communal spaces such as a swimming pool and children's playground.
On its website, the company expresses its hope that the Son Güell and Son Bordoy developments "will generate a significant positive impact on the local housing market and job creation in the region".
The strategic land reserve was a mechanism created by the PSOE-led government of 2007 to 2011 for the construction of VPO homes and to enable greater buildable land. The original plan had envisaged 850 homes.