Builders and developers say a new Balearic government plan to freeze building in some areas will make property even more expensive. They also said that it will make the shortage of cheap housing more pronounced.
Builders and developers fume over building freeze
Government aims to halt some building
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3 comments
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Great news , my property price will be going up even more.
Christopher GrubbNot sure about the 800k figure you quote. There are many non residents with cheap holiday flats on the island.
Spot on! Stopping non residents purchasing homes does nothing to help the average Mallorcan family looking to buy a property. Most Mallorcans have $2-300k to spend, while the average holiday home purchased by a non resident is €800k+. They are two totally separate markets. The politicians should concentrate their attentions on policies to make more affordable housing available for the local working families. Targeting non-residents is just shifting the blame and will do nothing to help local families.