guy hedgecoe reports. ibiza is preparing for the summer tourist season. beaches and resorts have long been a magnet for holidaymakers. but its success has helped create a housing crisis. across the balearic islands, rental costs have increased by nearly 20% over the last year alone, and in ibiza the increases have been even sharper. there are several reasons for the steep rises. higher interest rates and a higher cost of living have discouraged people from purchasing property. that, in turn, leads to an increase in demand for rented accommodation, pushing up rental rates. tourism is also a major factor. last year, 3.7 million people visited ibiza and the neighbouring island. many stay in flats, pushing up rental prices and keeping locals out of the housing market. this man is a chef and although he has work, he has been sleeping in his car for the last three years. something that many workers on the island now resort to. translation: in ibiza, accommodation is - expensive and is getting more and more expensive. with cost of renting completely out of kilte