Fresh call for limiting the purchase of flats by non-residents across Spain
PSOE socialists will be calling on the EU to give regions like the Balearics specific legislation to regulate the purchase and sale of second homes - prohibition, in other words.
Foreign buyers are falling in love with rural Mallorca
The new Balearic government scrapped inheritance tax in the Balearics earlier this year.
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![Foreign property market](https://uh.gsstatic.es/images/placeholder-preview.webp)
Foreign property market
The foreign property market is heavily reliant on the Germans, almost 60 percent of foreign property sales this year were to Germans.
![Foreign property buying](https://uh.gsstatic.es/images/placeholder-preview.webp)
Foreign property buying
Limiting foreigners to buying would cut current real estate activity by half. A high-end property for sale in an urbanisation on the coast of Ciutadella in Minorca.
35% of Balearics homes bought in the third quarter were by foreigners
The Canaries, with 30.6%, were second behind the Balearics.
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Balearics the leader for home sales to foreign buyers
A downward trend in British home buying is expected to continue.
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Significant decrease in Balearic property sales to foreigners
The Balearics showed the second steepest decline in sales in the second half of 2018.
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Foreign buyers taking over in Santa Catalina
Over 40% of property sales in Palma's Santa Catalina were to foreigners.
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Balearics third for foreign home buying
Only Tenerife and the province of Alicante registered more sales to foreign buyers.
- Emergency declared on Ryanair flight bound for Palma from Dublin
- British tourists will be “tracked” while on holiday in Mallorca
- Mallorca ambassador Sir Bradley Wiggins has “lost” his Mallorca home
- Mallorca restaurants losing clients, tourists tighten their belts
- Mallorca hotelier - "I wouldn't go to a place where I perceived there to be animosity towards tourists"
Comment
No sale
The legislation aims to curb the sale of homes to non-residents.
Jason Moore01/11/2022 09:18