The Balearic Government wants to limit foreign property purchases

The Balearic Government creates a committee made up of members from the government, the university and lawyers will look into ways of limiting the number of foreigners buying properties in the Balearic Islands after a MES motion was approved.

The objective will be analyzed in the context of European Law, which specifically allows for the free movement of its people and capital. 

The idea is to reduce demand, thus leading to a fall in house price values, making them more accessible to locals, who are struggling to buy property at present on comparably low wages. 

The idea is to convince the EU that the Balearic archipelago is unique and therefore limitations are necessary for sustainability.