Palma de Mallorca will be first Spanish city to ban tourist apartments
Starting in July , homeowners in Palma , on the Balearic Island of Mallorca , will not be allowed to rent out their apartments to tourists . Studies show that the number of unlicensed tourist apartments on offer grew 50 % between 2015 and 2017 to reach 20,000 units . In Palma , which is Spain ’ s eighth-largest city by population , only 645 properties used for short-term vacation rentals have proper licenses . The problem of affordable rent in Palma has been raised not only by residents but also by workers who commute to Mallorca from mainland Spain . City officials say that while vacation rentals are not the sole cause , they are a factor in the 40 % rise in average rental prices since 2013 . For full story see : El Pais in English . The capital of the popular
Mediterranean destination has adopted a pioneering measure in Spain , where other cities are also struggling with the consequences of mass tourism , including overcrowded centres and soaring rent .
1 in every 4 new companies set up in the first quarter of 2018 are in construction
One in four companies created in Spain during the first quarter of 2018 belong to the construction sector . 26,258 companies were created of which 5,987 ( 23 %) dedicated their activity to construction or real estate . According to the quarterly report on the creation of companies prepared by the financial company Gedesco , this figure is 1.7 % higher than in the same period last year . Of these , 754 were in the Comunidad Valenciana . From El Economista