ABINI calls for doubling the budget for social and affordable housing for residents in the Balearic Islands

The Balearic Association of National and International Real Estate (ABINI) has urged the Balearic Government to double the budget for social housing and to expand it to include affordable housing for residents in the Balearic Islands. The Association stresses that the average investment of 0.7% during the Pacte stage was clearly insufficient and proposes that it should work with 3% of the budget to bring the Balearics out of the European queue in social housing. “Social housing and ambitious affordable housing schemes are a fundamental part of the residential fabric needed for a healthy housing market,” said Hans Lenz, president of ABINI. “It is imperative that significant financial provision is made in these sectors to ensure that residents in the Balearic Islands have access to decent housing.” In addition, ABINI has expressed its concern over the unconstitutionality warnings launched by the Central Government against the Law of Urgent Measures in Housing, as this puts the Balearic affordable housing project at risk. “This law is vital to depressurize the real estate market and offer real solutions to island residents,” added Lenz. “The modifications proposed by the Central Government could mean a delay of more than ten years in its implementation. In addition, unconstitutionality notices are already paralyzing investment, which is creating immediate problems on the ground.” ABINI calls for urgent awareness of the enormous housing problem facing the citizens of the Balearic Islands and requests that the Bilateral Commission between the Balearic Government and the Central Government be agile, quick and reasonable in its negotiations, prioritizing the welfare of the residents of the Balearic Islands. On the other hand, ABINI will continue to follow the development process of the registry and the new regulations applicable to real estate agents in the Balearic Islands.