The rental market in Spain is increasingly shaped by multi-property landlords rather than single-property owners, according to a recent report by the Ministry of Social Rights, Consumer Affairs and the 2030 Agenda. The study, titled "A market dominated by multi-landlords, structure and concentration of the rental market in Spain," reveals Palma as the third city nationally for landlords owning multiple rental properties.
In Palma, 63.1 out of every 100 private landlords rent out two or more properties, making the Balearic capital rank just behind Las Palmas and Santa Cruz de Tenerife. This proportion is higher than in major cities such as Barcelona (60.8%) and Madrid (56.4%).
The ranking excludes large-scale landlords, such as corporations, investment funds, property holding companies, and other professional rental operators, who control roughly 8% of Spain’s rental market. In addition, about 300 public and social housing units within the national stock are accounted for separately.
The analysis was conducted by the Ministry of Consumer Affairs in collaboration with the Institute of Philosophy of the Spanish National Research Council (IFS-CSIC), based on data from the Household Panel managed by the Tax Agency under their joint General Action Protocol.
The report highlights a growing divide: fewer landlords with a single rental property coexist alongside a rising number of those with portfolios ranging from six to ten properties. Nationwide, the inventory held by multi-landlords has expanded more than fourfold, climbing from 138,000 to 626,000 units.
It cautions that if this trend persists, "housing will cease to function as a safety mechanism, a means of social integration and access to wellbeing, and increasingly become a source of persistent inequality."