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Foreign demand only a part of Mallorca's housing problems
The main reason for a lack of affordable housing is that "it is impossible" to build it at the required prices.
Andrew Ede19/09/2022 07:49 Balearics - highest price of homes but one of the lowest average salaries
In the Balearics, it would take almost three years longer to pay for an average-priced home than in the second and third most expensive regions.
Foreign home buying two-year requirement voted down
The Thursday plenary session of the Council of Mallorca rejected the proposal.
Thirty per cent of Balearics home buying is by foreigners
Teleworking has been a factor in increasing demand among foreign buyers.
Expropriation of apartments could result in lower rents
The Balearic government will expropriate 56 apartments belonging to banks and real-estate firms.
- UK entry visa comes into force on Wednesday
- Curtain comes down on Son Amar, the popular Mallorca nightspot
- New train service will have 10 kilometre underground section, linked with Palma airport
- Mallorca beaches at Soller and Andratx covered by thousands of 'little sails'
- Ryanair changes its hand luggage and check-in rules