Mallorca room rentals: Palma yields 5.6% in July

Letting rooms in a property in Palma, Mallorca, produces a 5.6% return in July, according to figures from property portal Fotocasa. Across the Balearic Islands, renting out an 80-square-metre home room by room returns 5.2%, against 4.2% for a traditional full-property let. María Matos, Fotocasa’s head of research and spokeswoman, says room rentals can bring owners a return almost two percentage points higher.

The advantage is not limited to selected markets, Matos says. Fotocasa found the same pattern across all of Spain’s autonomous communities.

High costs for an entire home are also pushing demand towards more flexible, cheaper options, according to Matos. Young people, students and workers away from home for their jobs are among those turning to room rentals. For landlords, the model offers a way to make more from a property and is becoming increasingly prominent.

Topics: Housing · Economy · Palma

Source: Europa Press / Mallorca.com