Holiday rental license prices revealed

The Board of Tourist Accommodation Exchange (CBAT) will approve the pricing to buy holiday bed licenses in the Balearics on the 26th June.

To set minimums, the CBAT has determined prices for each sector which include 875 Euros per place of occupancy for apartments, 3,500 Euros for villas and townhouses and 291,67 Euros for those who choose to rent their home for up to 60 days. There will be the possibility to split this payment into five yearly instalments.

All licenses require the habitability certificate to determine the maximum occupancy which cannot be surpassed.

Owners will have the option to renew the licenses every five years and additionally if they wish they can sell them back since they acquire them in usufruct.

Both hoteliers and homeowners will have to start paying the new prices once they are in force. Holiday homeowners will be able to buy these places from the moment in which the tourist zoning in Mallorca is approved.

The total number of places that the CBAT currently controls is 42,000 and the funds collected will be invested to improve tourist infrastructure. An investment of 9 million Euros is expected for this year.

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