The Balearic Government's Safe Rental scheme (Alquiler Seguro in Castellano, Lloguer Segur in Catalan) was launched in November 2024. Under this scheme, tenants pay the government a rent with a 30% discount. The government, in turn, pays owners the full market value and offers guarantees that properties will be returned in good condition.
It is a scheme to encourage owners to rent out; they might not otherwise do so because of a lack of guarantees. The maximum rent paid by tenants in Mallorca and Menorca is 1,050 euros; in Ibiza and Formentera it is 1,470 euros.
A year into the programme, figures from the housing ministry indicate that the average rent paid by tenants for a three-room apartment is €959.25 per month. The average price paid by the government to owners is €1,370.39. There are properties in twenty municipalities, more than half of them in Palma, with an average size of slightly under 100 square metres.
There are, however, only 68 properties so far. The government accepts that the uptake has fallen short of initial projections, but maintains that the rental prices support the programme's effectiveness in terms of bringing properties onto the market at reasonable prices, with the added guarantee of government supervision.
The housing ministry stresses that the scheme provides security and confidence to landlords, who often hesitate to put their properties up for rent due to fear of non-payment and uncertainty about the condition in which the property will be returned. Tenants must have resided in the Balearics for a minimum of five years to be eligible for the discount.