Can’t they impose stiff taxes on non-residents properties (e.g. 20% of what you paid per annum when you are not a resident) and reduce the ability to rent out apartments? Would that not solve the issue (at least partly)?
We should have done that ages ago all over the EU. Non-EU citizens shouldn’t be able to buy property in the EU and EU member countries shouldn’t be able to sell EU citizenship. Rich foreigners and institutional investors only exacerbate the housing crisis.
Racists! /s
On one hand I understand and support their stance. The Balearics are too touristy and that made locals pay for it. The article talks about [Deia](https://deia.info), I visited it, one of the most quaint and beautiful places along with Soller and Valldemosa but really deserted and sucked out of life. I can imagine how frustrating it would be to be born there yet not being able to afford to stay there.
On the other hand, I don’t want this to become a widespread practice in Europe
I would expect that a better answer would be constructing more housing.
That looks like an awful lot of cultivated farmland there. I mean, there should be legitimately space to put up more housing, and not on the order of “we gotta put 30 story buildings in to find space”.
About time
Sounds like lefty populism to me. Those islands are a goldmine. Every time a property changes owner a transaction tax is paid, roughly 10%.
Or dumb greed, hoping the wealthy will file for residency.
8 comments
Can’t they impose stiff taxes on non-residents properties (e.g. 20% of what you paid per annum when you are not a resident) and reduce the ability to rent out apartments? Would that not solve the issue (at least partly)?
We should have done that ages ago all over the EU. Non-EU citizens shouldn’t be able to buy property in the EU and EU member countries shouldn’t be able to sell EU citizenship. Rich foreigners and institutional investors only exacerbate the housing crisis.
Racists! /s
On one hand I understand and support their stance. The Balearics are too touristy and that made locals pay for it. The article talks about [Deia](https://deia.info), I visited it, one of the most quaint and beautiful places along with Soller and Valldemosa but really deserted and sucked out of life. I can imagine how frustrating it would be to be born there yet not being able to afford to stay there.
On the other hand, I don’t want this to become a widespread practice in Europe
I would expect that a better answer would be constructing more housing.
https://www.google.com/maps/place/Balearic+Islands/@39.4263607,2.9044454,11406m/data=!3m1!1e3!4m5!3m4!1s0x1297bbfff404864b:0xd5896ba9c72db2c4!8m2!3d39.3587759!4d2.7356328
That looks like an awful lot of cultivated farmland there. I mean, there should be legitimately space to put up more housing, and not on the order of “we gotta put 30 story buildings in to find space”.
About time
Sounds like lefty populism to me. Those islands are a goldmine. Every time a property changes owner a transaction tax is paid, roughly 10%.
Or dumb greed, hoping the wealthy will file for residency.
Sounds like… xenophobia.