The President of the Canary Islands, Fernando Clavijo, has made limiting the purchase of homes by foreign buyers one of his administration's main priorities.
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To achieve this, the regional government is working on two fronts: a national initiative, through a legislative amendment that would affect non-EU buyers, and a European initiative, which is considered essential for extending restrictions to EU citizens who do not intend to use these properties as their primary residence.
According to the Canary Islands president, action is also needed to address part of the demand generated by higher-income buyers who purchase homes in the archipelago. In the regional government's view, this contributes to rising property prices and reduces housing availability for the islands' residents.
The mechanism proposed by the regional government would allow tax penalties to be imposed on non-EU buyers who acquire a property in the Canary Islands and do not use it either as a primary residence or for long-term rental.
In this context, the government is also considering the possibility of introducing restrictions on the use of certain properties and increasing council tax (IBI) on homes that remain vacant.
New European regulations as the basis of the proposal
Clavijo bases his argument on proposed new European regulations which, if approved by the European Parliament, would provide municipalities and regional authorities with additional legal tools to curb the purchase of second homes in municipalities classified as experiencing "high housing pressure".
Through this approach, the Government of the Canary Islands hopes to extend restrictions to EU citizens as well, arguing that many of these buyers have greater purchasing power than residents.
To support its case, the regional government is preparing legal reports aimed at demonstrating the exceptional nature of the housing situation in the Canary Islands, which could serve as the basis for justifying such measures before European institutions.
As part of these efforts, the President of the Canary Islands plans to meet in November with Raffaele Fitto, Executive Vice-President of the European Commission for Cohesion and Reforms, to present the proposal in Brussels.
