Proposal to limit property sales to foreign buyers on Balearic and Canary Islands rejected

A MOTION to limit the sale of property to foreign non-residents of the Balearic and Canary Islands has been rejected by the Spanish senate.

The measure, pushed by socialist party from La Gomera (Asociacion Socialista Gomera), was blocked by votes from right-wing parties PP and Vox.

It had been backed by the left wing group, Confederal, alongside the support of left leaning parties, PSOE and Coalicion Canaria.

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“The purchase of properties by foreign buyers in the Canary and Balearic Islands is creating unprecedented pressure on the real estate market, above all in the most touristic areas,” Confederal said.

“This is making prices become very distorted and leaving locals without access to dignified housing at the same time as it erodes the social, economic and cultural fabric of the islands.”

To complement the measures, the senators also proposed policies to promote accessible housing, the recovery of the real estate market and priority access to housing for local residents.

The Canary Islands sought the support of the EU to limit the sale of properties to foreign buyers due to the ‘pressure’ it puts on the archipelago’s ‘social, economic and environmental balance’.

Meanwhile the Balearic Islands wanted to negotiate with the EU, saying they are in a similar situation to the Canary Islands.

Politicians have praised the recent abolition of the Golden Visa and the approval of the Ley de Vivienda (Housing Law) as steps in the right direction.

Balearic representative for Vox, Jorge Campos, has called the measure ‘pure xenophobia’ and accused politicians of ‘avoiding the word foreigner’ to escape such accusations. Meanwhile, PP has blamed the island’s local governments for ‘raising taxes’, ‘adding bureaucracy’, and ‘not doing enough to tackle squatters’.