The city, one of the country’s most popular destinations for British tourists, was the scene of violent demonstrations in June against “touristification”.
This kind of housing association has not been found before in Spain, unlike in countries like Britain.
The one- or two-bedroom apartments cost a nominal “peppercorn rent” of between €280-€320 (£242–277) per month. Similar properties on the open market cost at least €600 (£519) per month, often more than €1,000 (£865).
square SPAIN Britons resort to eating in their hotel rooms on holiday as Spain prices surge
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Natalia Martínez, director of alliances and communication at non-profit Fundació Habitat 3, said the increase in the number of holiday apartments was a sign of how rental costs have outstripped salaries.
Ainara Fernández, of the Institute for Human Rights and Business, a human rights think tank and UK-based charity, said the growing protests in the region underscored the issue.
Brian Harrison, general secretary of Salvar La Tejita, a protest group in the Canary Islands, said the archipelago had some housing associations: “However, until the tens of thousands of properties held by banks or used as unlicensed holiday rentals are allocated to the housing market, these associations have very limited resources to work with.”
In June, Spanish Prime Minister Pedro Sánchez offered to invest €4bn to build more homes and plug a deficit estimated at 450,000 by the Bank of Spain.
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