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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.
- New setback for Britons travelling to Mallorca from Sunday, September 1
- Britons could be “stuck” on planes at Mallorca airport
- Mallorca on storm lockdown for the long weekend
- Severe weather warning upgraded for all of Mallorca, airport delays
- Update: Barcelona now on red alert for rain, 50 flights cancelled