The reform of the Balearic Tourist Law establishes a limit on touristic rentals
The Balearic Islands has approved by Decree Law the modification on the rental of touristic accommodations. In this way, the number of visitors to the islands is limited and the business of renting apartments (booming in recent years) is properly regulated.
The limit has been set at 623,624 places for tourists and the long-term objective is to reduce the supply gradually. Likewise, the Balearic Government will fine up to 400,000 euros any platforms (such as Airbnb or Homeaway) that do not remove the advertisements of touristic flats —which are now declared illegal. Owners of flats or apartments that want to rent their properties to tourists are at risk of being fined up to € 40,000.
The decree approved on Tuesday August 8, outlaws the flats and apartments that are offered as short-stay tourist accommodations if do not comply with the new Law. So far, this practice was alegal, that is, unregulated. The law does allow rent for tourists without time limit in single-family homes-chalets- and pairs or cottages that have a previous license of the Consejería, since it will no longer authorize new permits.
In Del Canto Chambers we are specialized in foreign clients with properties in Spain. If you are a homeowner in Spain and want to rent it, do not hesitate to contact us.
Laia Fernández Bernálte
Del Canto Chambers