Majorca second home crackdown as Balearic Islands clamp down on foreign buyers | World | News
Brits hoping to buy property on one of the idyllic Balearic islands could soon face a ban as local politicians move to combat rising prices and a housing shortage for residents. MPs in Majorca, Menorca, Ibiza and Formentera He is set to debate the left-wing Més per Mallorca party’s controversial proposal to ban non-residents from buying property unless they have lived on the islands for at least five years years.
The scheme targets foreign buyers, including many British; Those buyers say critics have helped push the homes out of the reach of locals and young people. Government data shows that around 90,000 properties in the Balearic archipelago are owned by non-Spaniards; This accounts for approximately 16% of the housing stock. Brits are particularly active, buying around 12,000 homes across Spain in 2024, according to property portal Idealista.
“We must prioritize homes to live in,” Més per Mallorca MP Lluis Apesteguia told the Daily Mail. “This is not for those who want to speculate and continue the Monopoly game.”
The regional government is cracking down on short-term holiday lettings, which have been accused of driving homes off the long-term market. New tourist rental licenses in Palma are now completely banned, with municipalities severely restricting licenses in hotspots such as Palma, Ibiza Town and Magaluf.
In a bid to reduce overtourism and ease rental pressure, property owners are now required to register their properties before offering them as short-term rentals or face fines of up to €500,000 (£437,000) for unauthorized rentals.
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Rents continued to rise; Average prices in the Balearic Islands rise by more than 8% in 2025 (around €19.10 (£16.70) per square metre) and become steeper in areas such as Ibiza.
The proposal will now be debated in the Balearic Parliament; Here, supporters argue that the proposal would prioritize residents over speculators, while opponents warn that it could slow down investment and face legal hurdles.
It comes as Spain as a whole steps up a nationwide housing crackdown, forcing authorities to de-platform tens of thousands of unlicensed holidays and cities tightening rental and buying rules to curb spiraling costs. In a dramatic turnaround last year, Barcelona won court support to phase out all short-term holiday lettings by 2028; effectively banned Airbnb-style permits to free up thousands of homes to residents and combat its own housing shortage.
