{"id":41691,"date":"2023-03-16T08:14:24","date_gmt":"2023-03-16T07:14:24","guid":{"rendered":"https:\/\/mallorcaglobalmag.es\/?p=41691"},"modified":"2023-03-16T08:16:55","modified_gmt":"2023-03-16T07:16:55","slug":"eu-rejects-ban-on-home-purchases-by-non-residents-balearic-islands","status":"publish","type":"post","link":"https:\/\/mallorcaglobalmag.es\/en\/eu-rejects-ban-on-home-purchases-by-non-residents-balearic-islands\/","title":{"rendered":"EU rejects ban on home purchases by non-residents"},"content":{"rendered":"<p><strong>The European Union recalls that limiting the purchase of homes to non-residents is only possible for &#8220;overriding reasons of general interest&#8221;<\/strong><\/p>\n<p>The European Commission has reminded that limiting the purchase of housing to non-residents is only possible for &#8220;overriding reasons of general interest&#8221;. In this way,<strong> the European Commissioner for Capital Markets Union, Mairead McGuinness<\/strong>, has responded to the question of the PP MEP, the Majorcan Rosa Estar\u00e0s, on the limitation of the purchase of real estate by non-resident foreigners in the Islands.<\/p>\n<p>McGuinness alluded to <strong>Articles 63 and 65 of the Treaty on the Functioning of the European Union.<\/strong> The legislation prohibits the restriction of the movement of capital to purchase real estate by non-resident EU nationals. It could only be justified by reasons <strong>&#8220;of overriding general interest, non-discriminatory and proportionate to the objective pursued without going beyond what is necessary&#8221;<\/strong> that are recognized in the case law of the European Court of Justice.<\/p>\n<p><strong>The Balearic National and International Real Estate Association, ABINI<\/strong>, affirms that in the Balearic Islands this is not fulfilled in any case and they applaud Europe&#8217;s response. According to them, <strong>&#8220;the limitation to the purchase by foreigners goes against the current legislation&#8221;<\/strong>.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The European Union recalls that limiting the purchase of homes <a href=\"https:\/\/mallorcaglobalmag.es\/en\/eu-rejects-ban-on-home-purchases-by-non-residents-balearic-islands\/\"> [&#8230;]<\/a><\/p>\n","protected":false},"author":4,"featured_media":36970,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1515,136,1513,1527],"tags":[],"class_list":["post-41691","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-economy-and-tourism","category-blog-en","category-society","category-town-planning"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.2 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>EU rejects ban on home purchases by non-residents - Mallorca Global Mag<\/title>\n<meta name=\"description\" content=\"The European Union recalls that limiting the purchase of homes to non-residents is only possible for &quot;overriding reasons of general interest&quot;\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/mallorcaglobalmag.es\/en\/eu-rejects-ban-on-home-purchases-by-non-residents-balearic-islands\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"EU rejects ban on home purchases by non-residents - 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