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.
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!