The Balearics' director general for housing, Jaume Carbonero, said yesterday that once the summer is over, new legislation will be passed providing direct assistance for first time home buyers and help for those renting property. Once the decree is signed, the Balearic government intends to draw up a new autonomous housing plan which will be more suited to meeting the changing needs of the Balearic population. The escalating rise in house prices has made it increasingly difficult for first time home buyers to make a start on the property ladder and the local government intends to make a series of grants and financial packages available. Jaume Carbonero admitted yesterday that he can not envisage house prices in the Balearics getting any higher, “I think they've peaked.” “While Majorcan wages are the lowest in Spain, we're having to buy or rent property at German prices,” he said.

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