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"The main economy in the Balearics has become the real-estate business"
"People here won't be able to compete unless regulation is put in place for foreign buyers."
Andrew Ede04/12/2022 11:39 Balearic government "engaged in a battle" against purchases by non-residents
The government has defended increase in taxes on properties of one million euros and more.
Market intervention needed to limit sales of Mallorca homes to foreign buyers
"There are mechanisms in the free market for when imperfections occur." Overpopulation in the Balearics is an imperfection.
It takes longer to pay off the mortgage in the Balearics than anywhere else in Spain
Access to housing for the average family is "impossible".
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.
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