Brits hoping tobuy propertyon one of the idyllicBalearic Islandscould soon face a ban as local politicians move to tackle soaring prices and a shortage of housing for residents. Lawmakers inMajorca, Menorca, Ibiza and Formentera arepreparing to debate a controversial proposal from the left-wing Més per Mallorca party that would ban non-residents from buying property unless they’ve lived on the islands for at least fiveyears.
The plan is aimed atforeign buyers- including many Brits - who critics say have helped push homes out of reach for locals and young people. Government data shows around 90,000 properties in the Balearic archipelago are owned by non-Spaniards - about 16% of the housing stock. Brits have been especially active, with roughly 12,000 homes bought acrossSpainin 2024, according to property portal Idealista.
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“We have to prioritise the houses that are for living in,” Més per Mallorca MP Lluis Apesteguia told the Daily Mail. “Not for those who want to speculate and continue with this game of Monopoly.”
The regional government is cracking down onshort-term holiday rentals, which have been blamed for removing homes from the long-term market. Councils have sharply limited licences in hotspots like Palma, Ibiza Town andMagaluf, while new tourist rental licences in Palma are now banned altogether.
Owners must now register properties before offering them as short-term lets or face fines up to €500,000 (£437,000) for unauthorised rentals, in a bid to reduceovertourismand ease rental pressures.
Rents have continued to climb, with average prices in theBalearicsrising more than 8% in 2025 - around €19.10 (£16.70) per square metre - and even steeper in areas such as Ibiza.
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The proposal now heads to debate in the Balearic Parliament, where its supporters argue it will prioritise residents over speculators, while opponents warn it could chill investment and face legal hurdles.
Source: Daily Express :: World Feed
