The Executive, led by Fernando Clavijo, has submitted a draft royal decree-law to the Spanish Government. Titled the 'Law to guarantee access to housing for residents', the proposal seeks to restrict property acquisitions across the archipelago.
Under the terms, buyers must prove ten years of continuous residency or fifteen years if discontinuous. This applies to both Spanish and foreign citizens, limiting individuals to two homes in separate municipalities. Legal entities face further restrictions.
Agreed by Coalición Canaria as a condition for supporting eviction measures, the move aims to prioritise local access. Companies may only purchase residential property if their social purpose is strictly for resale or rental to natural persons in the region.