Jason Moore23/01/2023 15:19
TW
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Builders and developers say a new Balearic government plan to freeze building in some areas will make property even more expensive. They also said that it will make the shortage of cheap housing more pronounced.

The Balearic government will tomorrow table a motion in the Balearic parliament which will freeze construction in some areas and in certain circumstances on the island. "This is a direct assault on affordable housing in the islands," said Luis Martín of the Association of Building Promoters. "The government is just making the problem even more complicated," he added.

They also rejected calls for the sale of homes to non-residents to be restricted. "Non resident property buyers usually purchase properties in excess of 800,000 euros, this curb will do little or nothing to provide more cheap housing...."

The Balearic government rejected the claim saying that action needed to be taken over excessive building. The issue of contruction and foreign property ownership is rapidly becoming an election issue.