Spanish lawmakers are set to debate proposals to limit the purchase of homes by non-residents in the Canary and Balearic Islands, amid growing concerns that overseas investment and mass tourism are pricing local residents out of the housing market.
A joint committee of Spain’s lower and upper houses of parliament will consider a non-binding motion today, Tuesday, put forward by senators from the left-wing Izquierda Confederal group.
The initiative aims to prompt the country’s main political parties, the conservative People’s Party (PP) and the ruling Socialist Party (PSOE), to support legal measures restricting foreign (non-resident) property ownership in the islands.
The proposal includes calls for broader housing reforms, including measures to boost affordable housing, refurbish existing stock, and prioritise access for residents.
In the case of the Canary Islands, the motion seeks explicit approval from the European Union to impose such restrictions, citing the region’s special status as an Ultraperipheral Region. Lawmakers warn that foreign demand is putting unsustainable pressure on the housing market, threatening the islands’ social, economic and environmental stability.
A similar request is being proposed for the Balearic Islands, where senators argue the challenges are comparable due to their heavy reliance on tourism and limited housing supply.
The motion criticises what it describes as “massive” purchases of property by non-residents, which it says have driven up prices in key tourist areas and made it increasingly difficult for locals to find affordable homes.
“This is distorting the market and pushing residents out,” the document reads. “It is weakening the social, economic and cultural fabric of the islands.”
The debate follows a wave of street protests in the Canary Islands, where residents have voiced growing frustration over the impact of tourism and the rising cost of living, with more planned on May 18th.
