The Balearic Islands' parliament is preparing to debate a proposed ban on non-residents purchasing homes in Majorca, Minorca, Ibiza, and Formentera. This proposal, put forward by the political party Més per Mallorca, will be reviewed on February 24.

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MP Lluís Apesteguia stated that the proposed ban would prioritize homes for residents, discouraging speculative investment in the region's property market. He affirmed that this restriction complies with EU rules and existing case law.

Apesteguia emphasized the importance of making housing accessible to locals rather than being dominated by investment funds. He questioned whether homes should cater primarily to investors or local residents, as reported by the Majorca Daily Bulletin.

The rising interest from foreign buyers in the Balearic Islands and other popular Spanish holiday destinations has led to increased property prices, prompting local protests. Sebastià Sagreras, representing the People's Party of the Balearic Islands, announced that the party would oppose the ban.

Marc Pons, former president of Menorca's council, acknowledged EU regulations might hinder the proposal, suggesting the need for alternative solutions to the housing issue.

Vox spokesperson Manuela Cañadas criticized the proposal as "demagogic," according to the Majorca Daily Bulletin.

According to real estate publication Idealista, the Balearic Islands are Spain's most expensive province for property. The report highlighted 25 municipalities experiencing record resale prices, with Ibiza’s Sant Joan de Labritja at the top. The average price per square meter there is £7,830 (€8,959).

Majorca also saw significant price increases, with Colonia de Sant Pere experiencing a 37.5% rise. Idealista noted the islands' enduring attractiveness to international buyers, offering luxury, a Mediterranean lifestyle, and solid investment potential.

Apesteguia stressed that the current market makes housing unattainable for most local citizens. He stated that the bill aims to ensure homes are primarily for residents, not just investors.

Tourism and investment are crucial to the Balearic economy, but local needs are a growing concern among policymakers. The ongoing debate highlights the challenge of balancing economic development with ensuring affordable housing for residents.

As this proposal reaches parliament, it continues to spark discussions about the future of housing in the Balearic Islands and how best to address both the desires of international investors and the needs of local populations.

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  Adapted by ASEAN Now · Source · 20 Feb 2026

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I suspect the EU won't allow this if it impacts any other EU citizens the right to buy.

Presumably the new 500k of illegals just legalised in Spain will also have the right to buy.

Absolutely right. Property should be affordable for Spaniards not rich foreigners.

I'm proud of Thailand for not allowing foreigners to own land, thus pricing Thais out of the housing markets. Price are steep enough!

On 2/20/2026 at 4:48 PM, ASEAN NOW News said:

Majorca also saw significant price increases, with Colonia de Sant Pere experiencing a 37.5% rise.

If you were a current Spanish home owner would you feel injured if you could sell your house for a 38% profit?

If you were a Spanish municipality, would you like to see the municipal property tax for 1.1% of cadastral value increase based on a 137.8% purchase price?

If Thai's started to protest against mass cheap tourism that is ruining their country they would see action.

Property developers should not be active in a countries border immigration sector.

The previous administration was awful with this in Thailand.

Nation states looking after their own people?

This won't please the EU. This won't please them one bit.

But this is just one small region of Spain, right? Headline suggests the Spanish nation is considering a ban on all foreign residential purchases. Perhaps it should be "Popular region of Spain considers.."?