It argues that restricting buyers does not create housing, warns of the legal and economic impact of the measure, and calls for the Strategic Residential Projects Decree to be unblocked in order to generate 10,000 affordable homes in Palma.
The Balearic Association of National and International Real Estate Agencies (ABINI) has strongly rejected the proposal to limit the purchase of homes by non-residents and has accused Més per Mallorca of ‘seeking easy headlines instead of real solutions to the structural housing problem in the Balearic Islands’.
ABINI President Daniel Arenas has been clear: ‘I would not deny that demand from non-residents, which also includes residents of the mainland, has an effect on prices. But it is by no means the only factor. The real problem is that for 25 years there has been no response in terms of supply to the increase in population.’
Lack of management and absence of social housing
Arenas has warned that for decades, no government in the Balearic Islands, regardless of political affiliation, has been able to provide a structural response to the housing problem. There has not been sufficient supply to keep pace with population growth and demand pressure, and this accumulated deficit is now the real source of price tension.
ABINI warns that focusing the debate on limiting buyers diverts attention from the real problem: the lack of available housing. Furthermore, reducing real estate activity not only affects the end buyer, but also an entire economic ecosystem that depends on construction and renovation: builders, architects, quantity surveyors, engineers, painters, carpenters, electricians, plumbers, developers, notaries and law firms, among many other professionals.
‘Slowing down the market does not reduce the need for housing; it simply paralyses economic activity and employment. If no more homes are built, the impact will not only be on prices, but also on jobs and economic growth,’ the association points out.
Restricting buyers does not create a single home
ABINI warns that limiting purchases based on residence or nationality is legally questionable, creates uncertainty and will not solve the structural problem.
‘Restricting buyers does not create a single additional home. Unless the housing stock is expanded, prices will not fall structurally,’ said Arenas.
The association also points out that the proposal lacks political viability: Més holds 4 of the 59 seats in Parliament, and both the PP and VOX have already announced that they will vote against it.
‘Balearic society has already spoken clearly at the ballot box against these ideas. To insist on them is to prolong a fruitless debate,’ said the president.
Unlocking the PRE: 10,000 homes in Palma
ABINI believes that, instead of promoting restrictions, Més should withdraw its appeal before the Constitutional Court against the Decree Law on Strategic Residential Projects (PRE), which requires that 50% of homes in new developments be for residents.
‘In Palma alone, this regulation will enable the fast-track processing of nearly 10,000 affordable homes exclusively for people who have been residents of the Balearic Islands for at least five years,’ explained Arenas.
‘Blocking the PRE Decree will only serve to delay the release of thousands of affordable homes onto the market. If the real objective is to facilitate access to housing, they should stop hindering measures that generate real supply.’
Consistency and responsibility
Finally, ABINI has pointed out that the proposed restrictions ‘do not apply to private transactions,’ noting that ‘when certain leaders have had to sell their homes, they have chosen to sell to the highest bidder, including foreign buyers.’
‘We need effective housing policies, not confrontational rhetoric. The Balearic Islands need more supply, more legal certainty and better management. Anything else is just symbolic measures that will not solve the real problem,’ concluded Daniel Arenas.
