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.
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.
- Spain wants Britons to show they have 113.40 euros, £97, per day for their holidays
- Big changes on the horizon when Britons travel to Mallorca
- Over two hours for Britons to get through Palma airport queues
- Palma Airport passport control "collapse" put down to unscheduled flights
- Living in a motorhome in Palma: "It'll only get worse"
Comment
No sale
The legislation aims to curb the sale of homes to non-residents.
Jason Moore01/11/2022 09:18