Officials point to ‘Canada’s example’ and have asked Madrid to lobby EU as soaring prices push out local people
Officials on Spain’s Balearic Islands want to ban non-residents from buying property as soaring prices in Mallorca, Menorca and Ibiza drive local people out and create “ghost villages” of empty homes.
Such a move could make it impossible for foreigners to buy a holiday home in the archipelago. It follows a similar scheme in Canada, which introduced a two-year ban on property purchases by non-residents, with exceptions made for immigrants and legal residents.
