Sat. Sep 30th, 2023
    The Controversy of Foreign Investors in Mallorca Real Estate

    Foreign investors in Mallorca are raising concerns about their inability to purchase million-dollar homes on the island. This has sparked controversy as native Mallorcans may be forced to subsidize the sale of mansions to these invaders. In response to this situation, the Govern has proposed the creation of solidarity mortgages, where natives would pay for the properties of wealthy Central Europeans. However, this measure may not be sufficient and more drastic solutions, such as home exchanges, where locals would be displaced to accommodate foreigners, are being considered.

    The culprits behind the rising housing prices in Mallorca, which have led to the expulsion of natives, are now blaming the locals for inflating the prices for the invaders. However, the natives are requesting that the hardships they are facing be taken into account. They are being required to sell thousands of Mallorcan homes to foreigners, authorize more vacation homes, and even build mini-apartments on top of existing buildings to accommodate native workers.

    These proposed obligations would result in an island population of over one and a half million inhabitants and an influx of five million tourists per year, which has generated concern among the natives.

    It is important to note that the information provided is based on publicly available property data.

    Sources: Information from publicly available property data.