Automatically translated from Basque, translation may contain errors. More information here. Elhuyarren itzultzaile automatikoaren logoa

Foreign investors want to ban the purchase of housing in the Balearic Islands

  • The speculation of foreigners with the properties of the Balearic Islands makes it increasingly difficult for the population to live in their country. A Community committee is set up to study the ban. Foreign investors have been banned for two years in Canada and similar measures are in force in Austria, Finland and Croatia.
2022an etxebizitza erosi zutenen ia %40 atzerritarrak izan ziren. /Argazkia: Margalida Salas, Diario de Mallorca

16 January 2023 - 17:50
Last updated: 2023-01-17 08:53
Zarata mediatikoz beteriko garai nahasiotan, merkatu logiketatik urrun eta irakurleengandik gertu dagoen kazetaritza beharrezkoa dela uste baduzu, ARGIA bultzatzera animatu nahi zaitugu. Geroz eta gehiago gara, jarrai dezagun txikitik eragiten.

The Balearic Islands are taking steps to ban the sale of homes to foreigners. 38.95% of those who bought housing in the Community last year were foreign investors. The authorities have denounced that the price increase forces citizens to leave the country and that many peoples are becoming empty, as investors use the floors for tourism and speculation.

A committee is set up to study and discuss the ban. Deputy Mayor of the Balearic Islands, Juan Pedro Yllanes, explains that they want to follow the Canadian model. At the beginning of the year, the Canadian Government prohibited the purchase of properties by foreign investors and companies, asylum seekers and those who have recognised their final residence.

In this regard, The Guardian has stated that in the Austrian Alps the European Union has approved the transfer of areas "with the exception of foreign influences" because of their cultural importance; in the Finnish islands Aland there have also been restrictions on the purchase of second homes, and in Croatia whoever wants to buy farmland must reside in them for at least ten years.

 

 


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