As the housing crisis in this popular Spanish holiday archipelago deepens, it appears more and more residents have had enough. A recent housing report indicates that only 29% of locals would choose to remain in the region if given the choice to relocate within Spain.
The Balearic Islands, heralded for their idyllic beaches, beautiful natural scenery and lively towns on its islands of Majorca, Ibiza and Menorca, are fast becoming a victim of their own success and may soon have no one left to prop up its most vital industry. According to the second edition of the Housing Barometer, carried out by the Mutua Propietarios Group, nearly six in 10 Balearic residents would prefer to move to another part of the country. Meanwhile, 12% remain unsure about their plans. This places the islands among the Spanish regions with the lowest levels of satisfaction, alongside those in Madrid, Castilla-León, Castilla-La Mancha and Extremadura.
The findings also revealed the declining appeal of the Balearics among people from other parts of Spain. Residents of seven autonomous communities, including Cantabria, Castilla y León, and La Rioja, expressed no interest whatsoever in moving to the islands.
Overall, the Balearics attracted minimal attention, with just 3% of respondents from other regions considering it a potential place to live.
At the other end of the scale, it was the southern Andalusian region that came out as the top relocation choice, with 9% of respondents selecting it. This is followed by Asturias (6%), the Basque Country (5%) and the Canary Islands (5%).
Andalusian residents were also revealed to be the most content with their current homes, wth almost 60% expressing no desire to relocate, followed by the Basque Country and Navarra in northern Spain. High levels of satisfaction were also observed in Valencia and Asturias.
The Balearic Islands are experiencing a severe housing crisis, largely driven by overtourism and the prevalence of holiday rentals through sites like Airbnb, as well as many illegally-rented properties. This situation is causing a significant imbalance between supply and demand, leading to unaffordable housing for many residents. Many young people have said they have been forced to stay with their parents or spend big just to share an apartment, with little chance of saving enough to eventually purchase a home.
The crisis has led to social unrest and protests, with locals feeling priced out of their own communities. In April, thousands of protesters took to the streets across Spain in a demonstration over the housing crisis. Marchers in Madrid chanted “Get Airbnb out of our neighbourhoods” and held up signs against short-term rentals, while graffiti in Barcelona showed the phrase “tourism is killing this city”.