The real estate islands, a failure

The Minister of Economy, Antoni Costa, must be credited with the sincerity of admitting one of the most important observations that a large part of the citizenry reached long ago: in the Islands, growth no longer translates into well-being. In fact, what Costa did not say—because, as one of the top officials of the Government, we cannot ask him to throw more stones at his own roof—is that what is actually happening is that the growth of the Islands is generating more and more unrest.

It has been necessary for some time to review the productive structure of the Islands. Because for a long time, the Balearic Islands have signed up for the 'real-estatization' of everything. Apartments, houses, villas, everything is rented and everything is sold. And everything that used to be homes to live in is now being used in a way that has caused the largest price increase in living memory.

Not to mention the fact of having neighborhoods full of real estate agencies that are losing retail shops and filling up with designer businesses where they sell muffins that are pre-frozen cupcakes for 4 euros each. And nor of the consumption of resources, such as water, which this model of 'villa-izing' the territory causes so that a few can earn more.

The problem Antoni Costa has is that his Government has not done and will not do anything to change this course. Because it would mean confronting the powers that be. If we want to recover well-being, it is simpler than it seems. It only takes courage: to put an end to illegal tourist rentals, which are still enormous; to stop the villas in the countryside; to promote fiscal measures against the accumulation of apartments; to stop blaming Aena—which is also very much to blame. It would be better to stop muddling the waters and exercise the powers one has, instead of asking others to do it.