A motion to restrict the sale of real estate to foreign non-residents in the Balearic and Canary Islands was rejected by the Spanish Senate.
This measure, initiated by the Socialist Party of La Gomera (Asociación Socialista Gomera), failed to gain support and was blocked by the votes of the right-wing parties PP and Vox.
The left-wing Confederal group, supported by the left-wing parties PSOE and Coalición Canaria, however, supported the motion.
“The purchase of real estate by foreign buyers in the Canary and Balearic Islands is creating unprecedented pressure on the real estate market, especially in the tourist-oriented regions,” Confederal stated. “This leads to severely distorted prices and leaves locals without access to adequate housing, while simultaneously endangering the social, economic, and cultural fabric of the islands.”
In addition to the proposed measures, the senators also called for initiatives to promote accessible housing, stabilize the real estate market, and prioritize access for locals.
The Canary Islands have sought EU support to restrict the sale of real estate to foreign buyers, citing pressure on the archipelago’s “social, economic, and environmental balance.”
Meanwhile, the Balearic Islands are seeking similar talks with the EU, as they find themselves in a comparable situation to the Canary Islands.
Politicians have praised the recent abolition of the Golden Visa and the passage of the Ley de Vivienda (Housing Law) as positive steps.
Vox’s Balearic representative, Jorge Campos, described the measure as “pure xenophobia” and accused politicians of “avoiding the word “foreigner” to avoid such accusations. At the same time, the PP has accused the island’s local governments of “raising taxes,” “increasing bureaucracy,” and “not doing enough to combat squatters.”
