Mallorca rent caps and non-resident buyer limits fail

Mallorca rent cap bid fails: the Balearic Parliament in Palma, Mallorca, votes down a call to limit rents and home purchases by non-residents on Tuesday. The proposals are part of a housing motion brought by MÉS per Mallorca MP Ferran Rosa. PP, Vox, mixed-group MP Llorenç Córdoba and non-attached MPs defeat those measures by 32 votes to 24.

What MPs voted down

The same vote rejected a plan to take temporary control of homes held by large property owners and use them for social and affordable rent. MPs also rejected tax changes that would favour homes used as main residences while raising the burden on second homes, speculative deals and empty properties.

Another proposal would have paused promotion of new air routes to destinations including the United States, Canada and the United Arab Emirates until measures to protect residential housing were adopted. A proposed limit on speculative purchases by investment funds, large property owners and property groups failed too; Vox’s four MPs abstained on that point.

What the parliament backed

MPs did agree that non-residents buy one in three homes sold in the Balearic Islands and that this pushes up prices. They called on the Balearic government to reduce demand for homes, particularly for non-residential use, and to keep housing available for people to live in. Vox abstained on those points.

The parliament also unanimously expressed concern about rising sale prices and rents. It backed more inspections of illegal holiday lets so those homes can enter the residential market.

Topics: Housing · Tourism · Politics

Source: Europa Press / Mallorca.com