Builders and developers fume over building freeze

Government aims to halt some building

Jason Moore23/01/2023 15:19

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.

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3 comments

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Joe Milburn | over 2 years ago

Great news , my property price will be going up even more.

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Zoltan Teglas | over 2 years ago

Christopher GrubbNot sure about the 800k figure you quote. There are many non residents with cheap holiday flats on the island.

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Christopher Grubb | over 2 years ago

Spot on! Stopping non residents purchasing homes does nothing to help the average Mallorcan family looking to buy a property. Most Mallorcans have $2-300k to spend, while the average holiday home purchased by a non resident is €800k+. They are two totally separate markets. The politicians should concentrate their attentions on policies to make more affordable housing available for the local working families. Targeting non-residents is just shifting the blame and will do nothing to help local families.

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