The bill which would effectively ban the sale of Mallorca homes to foreigners or non-residents has been watered down by the ruling socialists in the Balearic government although a bill will be presented before parliament.
The more radical elements of the three-party coalition had wanted parliament to pass a bill which would curb the sale of homes to non-residents but in the end the bill which will be presented calls for a common front between the Balearic government, central administration in Madrid and the European Union on how to resolve the housing crisis allegedly caused by foreigners buying large numbers of properties on the island. The Madrid government has already said that it is opposed to any curb.
Political commentators said that the "hot potato" had effectively been kicked into touch. However, the opposition Partido Popular has said that they would vote against the "watered down bill" when it is presented before parliament.
Local estate agents react furiously at the proposed curb saying that it would damage the property market and dent foreign investment. They also said that talk of the possible ban had already damaged the industry with some foreigners backing away from property purchases.
It was the Mallorca nationalists (Mes) and the far-left (Podemos) who had been pushing for the ban. In the end the ruling socialists have managed to strike a compromise deal with them.