Podemos wants to limit the amount of properties purchased by foreigners

The spokesperson for Podemos, Javier Sánchez Serna, has said in Congress, that his political party believes that eliminating Golden Visas "is insufficient" to combat speculation in the real estate market and believe it is necessary to go further by limiting the purchase of housing to non-residents in areas under tension, particularly in the Balearic and Canary Islands.

Although they support abolishing these visas that automatically grant residency to foreigners upon purchasing a property valued over 500,000 euros, Sánchez Serna has criticized that its implementation comes “five years too late”, while also warning that additional measures are necessary to address housing issues.

An example he cited during yesterday's press conference in Congress, was to introduce the non-binding motion recently presented by his party to limit the purchase of homes to non-residents in the Canary Islands and the Balearic Islands. The proposal did not pass in the Housing Committee due to votes against it from PSOE, PP, and Vox.

In addition to limiting purchases by non-residents, the spokesperson in the Lower House has also advocated for curbing seasonal rentals, regulating rents through the Housing Law, and opposing SOCIMIs, which are real estate investment funds that Podemos has been opposed to on several occasions.

In fact, limiting the purchase of homes to foreigners or non-residents is one of the demands that will be made in the upcoming demonstrations on five of the Canary Islands on April 20th, a mobilisation that aims to be "historic in size," according to its organisers.

Among other issues, they are calling for the imposition of a tourist tax, increased surveillance and protection of natural spaces, and establishing limits on tourist arrivals to the islands, which they consider saturated.

According to the latest data published by the College of Property Registrars, nearly one in three homes for sale in the Canary Islands ended up in the hands of foreigners in 2023.

Meanwhile, the Canary Islands government and hotel associations in the islands have responded by calling for calm, prudence, and reasoned debate. However, the President of the Government has been adjusting his statements as the impact of the demonstrations grows, which have already been echoed in national and international media.

Thus, Fernando Clavijo went from urging "common sense" to the demonstrators to asking the tourism sector on Monday to raise wages because "it exploits something that belongs to all of us," referring to the climate and island landscapes.

His government, formed by CC and the PP, is preparing a holiday rental law and has already passed an urgent decree law on housing measures, but the latter does not include any measures to limit sales to foreigners or non-residents, nor measures to prevent speculation.