Brits thinking of buying a holiday home in Mallorca or Ibiza may soon find themselves barred from doing so as the Balearics are considering limiting property purchases to prevent local residents from being priced out of the property market.

The islands’ parliament has just voted to study the legal implications of capping sales of property to foreigners. Eduardo Robsy, director-general of the housing ministry, acknowledged that members of the European Union would probably be protected under EU law. However, he said there were possibilities for limiting sales to British buyers.

Data recently published by the Ministry of Commerce in Spain confirmed the great growth of foreign investment in the Balearic Islands, doubling between 2015 and 2021. The construction of villas and luxury homes has been rising and the data revealed that around 21% of all sales to international buyers were from the UK.

This number is more than double that of the following nationality, the French, with 9% of sales, followed by the Swiss.