Armengol said restrictind the non-resident property market is an EU matter.

Armengol said restrictind the non-resident property market is an EU matter. | Majorca Daily Bulletin reporter

Humphrey CarterPalma09/01/2023 14:38
TW
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The President of the Balearic Government, Francina Armengol, said today that limiting the purchase of property to non-residents “is an issue that depends exclusively on the European Union”, although she acknowledged that housing “is one of the most important challenges facing society”.

“It is a complex issue and needs a lot of help”, she said and highlighted the fact that “measures to address the issue being taken by the Government are very well under way, such as the Housing Law or the policy of subsidised housing”.

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She also described the state housing law, which is currently under negotiation, as a “great opportunity”.
“We hope that it will be quick and that it will give us more tools to have a greater impact as an autonomous community on housing policies,” the president said.

On the matter of restricting the non-resident property market, Armengol said “it is an EU issue”, adding that the Balearics are negotiating several issues that “are of interest”, such as common strategies which are being developed with other EU islands for a more global approach.