Owners selling apartments because of holiday rentals law

The reality is that the United Kingdom has become very much a third-world country. Although in some ways, and due mainly to its half-hearted involvement in the EU, many would like to think differently. But the fact is that, like most British colonies, the locals mainly remain poor, while the majority of the properties there are owned by foreigners and a few wealthy local landowners. Neither do we have the democracy that many places enjoy, as many political decisions are made to favour the few, against the best interests, or the wishes of the majority. In this scenario things will culminate the same as the others mentioned, i.e.: a place for the rich to retire, with the locals leading a poorer and parallel lifestyle. It's in the British DNA I think, and what cost them America.

If holiday apartment / villa owners decided that instead of renting they would spend the entire summer in their holiday homes, what then, would the government say sorry we have too many residents, please will some of you go home

Pete. I agree something needed ton be done. A sensible long term solution. The way this is going your friend's who work in bars won't need anyware to live in the summer as lots of the bars will be shut through lack of visitors who spend outside the hotels. There's no way owners of apartments are going to rent to a seasonal worker who will need to over fill the property with his mates to be able to afford it. The apartments being sold will not be occupied for a few weeks a year by the owners who can afford to own and not rent out. Again no good for the local economy as people who "live" there for some of the time don't spend as much as someone who is on holiday.

Regardless of Brexit or Pound value here's my prediction: if Corbyn gets in (not as improbable as people think) and providing there is no stock market crash in the next few years to damage private pensions, thousands of Brits will cut their losses, retire early and come to places like Mallorca. There will be another Brit property boom cycle here. Look up Labour manifesto on the tax proposals. Completely negates weak pound factor.

Although I understand many of the comments made, there is a complete lack of properties available at the moment. The estate agents are very busy and looking for properties to sell especially at the lower end of the market. So all the doom and gloom is not materialising at the moment. Many of my friends who work in bars etc are having a really difficult time getting accommodation in the summer so something needs to change, but maybe not the way it is currently happening.

Non-sense, you will have to leave anyway after Brexit, may as well cut your loses. Time to clean up the island ;-)

The hotels are so corrupt on that island. I was personally involved in a deal on behalf of somebody i used to work for a few years ago. I will not mention the names, but it involved a large transaction for a purchase in excess of 1m euros. I was there to represent the seller and a certain director of a hotel chain paid for the item and a large bag of cash was counted out as the black element to avoid the tax. We are all aware of the wages on the island and i myself was also poorly paid which is another reason we left the island. So much goes on behind the scene and the money these hotel chains have is far in excess to swage and persuade the powers that be and a country that is historically corrupt and happy to accept and turn a blind eye is going to catch up with them. It would be the best place in the world to live if only they could get their house in order. Remember the corrupt councillors on the south coast with the horses and helicopters! All these people can be bought and thats what happens while the rest of the normals are left to foot the bill and pick up the pieces. Living on the island was one of the best times of my life and i wish i coukd go back but i know in thirty years time the place will still be in constant turmoil and confusion. Vote with your feet and leave them to it. Once you open your eyes to newer places you soon discover places, cleaner, cheaper, easier to live in, and a sense of direction. My biggest sadness is for the spanish people whom are the nicest ive ever encountered, and yet face decades of joblessness. Every position the company i work for in the uk advertises, we alwasy get some spanish applicants as they are leaving in droves and who can blame them.

Forgot to add to my previouse letter that we are not selling is not due to not being able to rent our apartment out it is due to the fact the island is dying and all the local bars and restaurants and entertainment will cease to operate so it would be wise to get rid of the apt now before it gets too bad to sell. Residents who live in Mallorca will soon see their apartments value drop when the market is flooded with properties.

After our family owning an apt in Mallorca for 25 years it is with sadness I am flying out in March to put our apartment in the hands of the local estate agent to sell. We will then continue to holiday but not in Mallorca. All of our family use our apt right through the year and we would spend round about 30 thousand pounds between us all. We use local businesses for furniture maintanance and local bars and restaurants . I'm sure many more families like ourselves will be doing this this year . I would not concider renting it out due to the horror stories of none payment of rent due to work only available for 6 months of the year for tenants and places being ruined and abused.

It's started then !!!!