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As reported a while ago, the Balearic Govern is proposing to modify the law with regard to the use of hotel rooms, which would allow owners to change hotels into residential properties, which could then be sold on to the general public. The vice-president of the Hoteliers’ Federation, Roberto Hortensius, commented last week that he does not think that this measure would be well received in Ibiza, as there is still a large stock of unsold properties, suitable for use as second homes, on the island. When the bottom fell out of the housing market some three years ago, many constructors were left with a large quantity of properties which they could not sell. Since then, the amount of people who have fallen behind with mortgage repayments and returned the property to the finance house or bank has also multiplied considerably.

However, Hortensius went on to say that new legislation changes allowing hotels and apartments to work on an American style condo basis (private investors can purchase a share in a hotel room) could be beneficial to some of the more old-fashioned establishments, who have problems keeping their rooms occupied and cannot afford to refurbish them, as it would give the owners an important boost to their income.

He also went on to voice his concern about the number of seafront properties, especially in the bay of San Antonio, which have been sold privately, claiming the uniformity of the façade was in jeopardy, as not all the owners are prepared to paint their properties frequently or in uniform colours.

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