The Minister of Housing, Land and Mobility, José Luis Mateo, and the Manager of IBAVI, Roberto María Cayuela, handed over the keys on Thursday to the new development of 25 supported rental housing units located at 3 Lope de Vega Street, Palma. These units are designated for people over 65 years of age, and through an agreement, five have been allocated to AMADIP for individuals with intellectual disabilities.
The development has a total built area of 1,617 square meters, distributed across a basement — with four parking spaces — ground floor, first and second floors, and an attic. The building consists of 23 one-bedroom units ranging from 30 m² to 42 m², and two adapted two-bedroom units of 47 m² each. The facility also includes three communal rooms, a laundry room, and two lounges.
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IBAVI
Regarding the profile of the residents, there are eight couples and eleven individuals living alone, all over the age of 65. As for the five remaining units, they have been transferred via agreement to AMADIP for persons with intellectual disabilities. It is worth highlighting that these five units add to the fifteen units that IBAVI had already allocated to this third-sector organization.
The rental price ranges between €222.33 and €511.18 (expenses included). The rent is adjusted to the tenants’ actual income, ensuring that no tenant pays more than 30% of their income towards rent. For this reason, six of the 25 tenants benefit from a rent reduction.
The construction budget was €2.7 million (excluding VAT). The construction work for this development began in May 2022 and was completed in April 2025. Once the work was finalized, IBAVI initiated the procedures to obtain publicly protected housing (VPP) certification for the development, along with favorable certification from the city council, and completed all other administrative processes necessary to finalize the handover of the homes.
IBAVI is currently planning the construction of nearly 900 new publicly protected homes in new developments initiated during this legislative term. Public housing remains one of the central pillars of the Government’s emergency plan, along with new measures and programs aimed at creating more affordable housing for residents of the islands.