- Recent large-scale demonstrations against the existing tourism paradigm have taken place throughout the Canary Islands, motivated by locals’ problems in finding reasonably priced homes. Both on the streets and on social media, unhappiness has been evident, with many people venting their resentment at real estate developers and companies that largely serve foreign customers.
- The sign, which said “up to 70% financing options for non-residents” in both Spanish and English, was seen by many locals as unjust and exclusive. In retaliation, the advertisement was even sprayed with black paint.
- Social networking sites received a deluge of complaints, especially X (previously Twitter). A popular attitude was expressed by user @redbentejuí, who said, “They advertise their advantages for non-residents because they know a local worker will never be able to afford it.”
- The rage was not limited to the internet; Getaway Real Estate received several verbally abusive unsolicited calls. The director of the company, María Jiménez, reports that “we’ve been insulted and told all sorts of things,” and she is surprised by the ferocity of the response.
- Jiménez made it clear that anyone could acquire the homes and that Spanish purchasers could obtain financing for 80% to 100% of the purchase price in an interview with the local daily La Provincia. “We thought everyone knew this,” she said.
- Jiménez continued, saying that just two of the 53 houses had been bought by foreigners, one of whom is dual-national. Of the 53 properties, 42 had previously been sold. “Our customer is anyone who comes and pays, whether with their money or through a bank loan, regardless of nationality,” she said.
- People in the Canary Islands demonstrate against real estate salespeople and developers who target foreign purchasers.
- The dispute draws attention to a larger problem in the Canary Islands, where there is a perception that increased foreign investment and construction fueled by tourism is pushing up property values, making it harder for locals to afford homes.
- This conflict highlights the need for a well-rounded strategy that manages the tourism industry’s economic benefits while attending to the housing needs of the local populace.
Source:
canarianweekly
