Etiqueta 'Majorca property market'
Non-resident property purchase: "This limitation violates superior national and European legislation, and will generate more confusion than solutions."
The Balearic government has supported a proposal to limit the purchase of homes and vehicles by non-residents in an effort to reduce overcrowding and also ease environmental pressures.
Foreigners snapping up property in Mallorca
Non-resident foreigners paid 2,481 euros per m2 for their homes, whereas residents paid 1,567 euros and nationals paid 1,503 euros per m2.
![Foreign property sales in Mallorca.](https://uh.gsstatic.es/images/placeholder-preview.webp)
Foreign property sales in Mallorca.
Foreign property sales in Mallorca.
Property
Property sales fall as prices reach their peak
The sales of homes in the Balearics slumped by over 20% in July.
- 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