The Spanish Government has proposed to the European Commission that it be authorized to limit the purchase of homes in the Canary Islands that will not be used for residential purposes to reduce pressure on the market and facilitate access to housing for young people and vulnerable groups.
The proposal is part of the package of measures that the Ministry of Foreign Affairs has suggested to Brussels to include in the future simplification of the regulations for the outermost regions (ORs) of the EU, nine territories in France, Portugal, and Spain that are recognized by the treaties with a special status, as reported by the Minister of Territorial Policy, Ángel Víctor Torres.
The Canary Islands Government had also approached the European Commission to make an exception for the ORs regarding housing in order to contain price increases, although in its case it was going in a different direction: to prohibit or limit the purchase of homes in its territory by foreigners not residing in the islands.
