“The purchase of homes by Mallorcans in the north of the mainland may trigger specific processes of gentrification,” claims Jesús González, Professor of Geography at the University of the Balearics (UIB). In this regard, he argues that many residents of the island are taking advantage of the opportunity to buy homes in Asturias because they are much cheaper there. The climate and lower tourist pressure are other factors that also encourage islanders to buy in northern Spain.
This is confirmed by the Notarial Statistics Portal, which reports that in Asturias the average price per square metre is 1,326 euros: the average floor area of homes is 105 square metres and the average sale price is 139,055 euros. In the case of the Balearic Islands (the data is by province), the price per square metre is €4,102. The average size of homes sold is 121 square metres and the price amounts to €497,728. Therefore, in Asturias, you can buy almost four houses for the price of one in Mallorca.
The president of the Association of Estate Agents (API) of the Balearics, José Miguel Artieda, confirms the growing interest among Mallorcans in buying homes in Asturias, as well as in other autonomous communities such as Galicia. In many cases, these are retirees who sell their home in Mallorca and, with the money they receive, can buy another on the mainland and use the remaining funds to enjoy a higher quality of life. It is worth noting that the cost of living in Mallorca is among the highest in Spain, as are other everyday expenses such as fuel, leisure, etc.
When asked what gentrification by Mallorcans in Asturias entails, the Professor of Geography at the UIB explained that it leads to significant changes, ranging from the type of housing to the businesses in the affected areas, etc. In this regard, he points out that gentrification refers to a process of urban transformation whereby a run-down or deprived area, with very cheap housing, attracts investors who revitalise it, leading to social mobility in which a lower social class is replaced by a higher one.
In the case of Mallorcans, the aforementioned expert points out that ‘those who buy houses in the north of the mainland do not necessarily have to be wealthy. However, although on a smaller scale, this process can also have an impact on small villages or neighbourhoods, just as the influx of people from the European mainland may have had on villages and neighbourhoods in Mallorca’.
Furthermore, he asserts that “gentrification is driving the lower-middle classes out of Mallorca”. In this regard, he emphasises that “raising the rent by 200 or 400 euros a month is a covert eviction because the tenant cannot afford it and is forced to leave”. On this point, he explains that gentrification is when a process of urban transformation takes place whereby a humble or run-down neighbourhood, with very cheap housing, attracts investors who revitalise it, leading to social mobility whereby a lower social class is replaced by a higher one. “The cheaper the housing, the more it attracts speculators,” he said.