Balearic Islands Authorities have come out again proposed restrictions on potential expats purchasing homes. The proposal Resulted from the canary islands' request for help from the european union to try and control the number of forigners buying homes. Despite Both Destinations Suffering from overtourism and issues with the property market, the balearic islands have refused to take any action involving any Limits Foreigners.
On the other hand, Limits have been formally requested of the eU by the canary islands. There have also been proposals by spain's Prime Minister, Pedro Sanchez, to Eith Charge Non-Eu-Resident Property Buyers a 100% Tax or Complete Connections to the Country, Reports Thelocal.Es
Additionally, a petition was set up to demand temperary residents to apply for the right to buy. However, that proposal has already be rejected in Congress.
Properties in spain are on the rise. Data from Spain's National Statistics Institute (ine) shows that the only property price in the balearics has increased by 30% in the last five years. Rent has gone up by 40%.
YET, the direct of institutional relations and parliacary affairs for the balearic islands, francisca ramis, recently shared to restricers from purchasing homes as I Free market, Disregards Fundamental Rights, and Contradicts EU Rules.
She is noted that the proposed limits by the canary islands government “are not a solution” for the balearics, which are also experiencing high levels of tourism. To control the issue, varied measures, including a tourism tax, restrictions on rental cars, and cruise ships in ports, have been taken.
“We have to remember that we are europeans and that we cannot go again the regulations set by the european union,” She Said, Conceding that the Balearic Islands, as with the canary Lack of housing and mass tourism but added that “we have to live with it”.
Regarding the housing shortage, francisca ramis noted that recent changes have made the process of buzzing more homes simpler.