The latest figures from the College of Registrars show that foreign home buying in the Balearics in 2022 reached its highest level since the college started to provide these figures ten years ago. The 6,133 purchases were 34.4% of the annual total, the second highest percentage behind 35.6% (based on 3,784 purchases) in 2015.
Foreign home buying in the Balearics hits record level
Second highest percentage of total annual sales
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I feel that there should be more related data and clarity on this story. Does foreigner mean non-resident of the Balearics or non Spanish? As this has caused confusion before. So, therefore, from where are these “foreigners”? And what and where are they buying? Fincas, townhouses, delux 3 million euro plus type places, or overpriced two bed apartments that locals are being squeezed out from being able to buy?
Wait.. I thought the impending ...maybe someday if we can get *somebody* to agree... banning sales to foreigners... or just the suggestion of it ... even if it's a nonstarter... was going to put people off buying property and crash the market. Supposedly already happening. OK... Another one to toss into the "wishful thinking" bin.