On Friday, February 18, the Balearic Government issued Decree Law 3/2022, of February 11, on urgent measures for the sustainability and circularity of tourism in the Balearic Islands, in which, among many measures, there is a moratorium or prohibition of new tourist accommodation places during the next four years.
In the first additional provision, the suspension of the acquisition of tourist places is established,
"1. On the islands of Mallorca, Ibiza and Formentera, the possibility of acquiring tourist places from the managing body or the tourist administration is temporarily suspended, as well as the exchange of places between individuals, for the start of tourist activity or for the extension of this, for:
a) Tourist accommodation establishments.
b) Dwellings subject to tourist marketing.
3. The suspension provided for in section 1 is valid until the evaluation or re-evaluation referred to in section 2 of this provision is carried out and, at most, for four years from the publication of this Decree Law.
4. This suspension does not affect the establishments specified in letter a) of section 1, in respect of which, before the entry into force of this Decree Law:
a) They are executing works aimed at opening or expanding the establishment.
b) An application for an urban building license is being processed or a declaration of responsibility has been submitted to the competent urban administration for the opening or expansion of the establishment.
c) The urban building license has been obtained before the entry into force of this Decree Law and it has not expired.
d) There is a reservation of places by the tourist administration or the managing body, in accordance with current regulations.
e) An application for places is being processed before the tourist administration or the managing body or is in the process of being amended.
The majority of Spanish provincial capitals (32 of the 52) now have much less rental housing than there was a year ago. In the case of Palma, the drop is up to 30 percent.
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Berkshire Hathaway HomeServices is the...
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n the second month of the year, 1,416 homes changed hands in the archipelago.
In Spain, home sales and purchases increased by 24% compared to a year earlier and for the twelfth consecutive month, to 56,623 units, the highest figure for a month in almost 14 years (since April 2008).
Home sales in the Balearic Islands increased by 42% in February (1,416 homes), compared to the...