Més per Menorca have registered a motion to the Balearic Parliament seeking to establish limitations on the sale of homes in the Balearics to non-residents.
This motion calls on the regional government (the Partido Popular) to declare a housing emergency. This could be for the whole of the Balearics, for individual islands or indeed individual municipalities.
Once declared, the sale of homes would only be to people (not originally from the Balearics) who can satisfy certain requirements. Proof would include residency certification, an employment contract or what Més per Mallorca call a long-term social link. The motion also proposes banning the sale of homes to individuals representing companies. This is because a large number of purchases are registered in the name of companies. Notaries would be obliged to warn sellers about these limitations.
Conditions for a housing emergency to be declared include an excessive rise in prices or an increase in the number of homes for tourist rental.
Spokesperson Josep Castells, pointing to a similar law in force on the Dutch island of Ameland, argues that it is essential that residents have priority in the purchase of homes in order prevent one in three houses ending up in the hands of a foreign buyer, as is the case at present. He also argues that this does not contravene European regulations as there is jurisprudence that allows limiting the free movement of goods and capital for reasons of general interest.
Castells is aware that the PP will reject the motion, but he believes that keeping the debate open is important for the future. He cites the example of the tourist tax, which the PP initially rejected but have now accepted.
Lluís Apesteguia, coordinator of Més per Mallorca, points out that his party is working on its own law to prohibit purchases by non-residents. Mercedes Garrido of PSOE believes that everything should be up for discussion, stressing that the first thing that should be done is to establish limits to rent prices.
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tattooEvery house owner pay tax in Spain and many live many months a year in their properties. Is this the green envy who popped up!
My comment was unpopular, I would be interested in hearing other views. Or am I just getting downvoted by spec investors who do not wish to change the status quo?
Well good luck to your average Mallorquin on a waiters salary running a 6 bedroom house with pool in Port d'Andratx, Son Vida, Deia, Costa d'en Blanes etc. I am sure that will end well. They won't even be able to pay the monthly electricity bill or maybe they will ask that locals get free electricity? Actually they won't have jobs either as all the foreign home owners will go and there will be no restaurant jobs available. Unfortunately in Mes' tiny pea like brains they haven't really thought this one through.
We all pray this to finaly happen soon as possible ! Housing purchase of people not living and paying taxes in Spain, should be banned immediately !
So who is going to ask the Ruben Brothers, who own massive tracts of prime Mallorcan land, especially by the coasts, to the value of hundreds of millions of Euros to…sell it back? This argument is total bollocks.
Happy to read mostly sensible comments here about a totally stupid idea. The challenge is the lack of “affordable housing” for the young and low earners. NOT the public remotely able to buy the sort of properties most non resident foreigners tend to go after. I feel sorry for those who genuinely try and struggle. But so many I’ve seen here feeling entitled and seemingly without ambition. In my country the young also struggle to buy their first house, but I promise you foreigners or expats are not blamed for local failures. And maybe try your luck elsewhere for a while? Let the thousands of hardworking South Americans be an example.
Bueno. Another silly Mallorcan idea. How would this solve the housing crisis? Do they really think that I would sell my place cheaper to a Mallorcan then to a foreigner? As said below. The local Mallorcans are at fault for the overinflated prices that started this whole fiasco in the first place. We reap what we sow. Live with it like all the rest of us.
How will home owners feel when the value of their home decreases? Do we care about new construction jobs that will be lost? I don’t think there’s a perfect solution, but I think a more simple approach could be a significant annual tax on property that is not your primary residence (or having to spend at least several months of the year living in the home). At a certain level, it will discourage speculators and those just parking their money in empty homes. Some would at least have to rent them. And the state benefits as well (rather than taking a complete loss on no wealthy investors). Open to being challenged on this idea. Surely other people have put some thought into it.
No matter how they want to angle it, many locals will not be able to buy anyway, even if they ban non residents buying.
Mallorquins are too blame, selling all properties at an over inflated price, now they are crying and blame everything but themselves.