Else Beekman
Majorcans may have found a new target to project their frustrations about the severe housing crisis onto: foreign luxury property owners. The iconic Osborne Bull on Mallorca has been vandalised with graffiti targeting this new group. The message, written in bold red letters, reads: “Rich foreign property buyers go to hell.”
Located on a hill along the Palma to Manacor road (Ma-15), between Algaida and Montuïri, the Osborne Bull is known as a cultural symbol in Spain. Originally designed as a billboard for Spanish brandy, it has since become a national icon. However, it also frequently serves as a canvas for political and social messages.
This latest graffiti with an unmistakable message has sparked significant debate on social media. Many see it as a reflection of local frustration over rising property prices driven by foreign demand. Others view it as an act of vandalism unfairly targeting outsiders.
Growing housing tensions in Mallorca
Mallorca, like much of Spain’s Balearic Islands, faces a severe housing crisis. The influx of (wealthy) foreign buyers has contributed to skyrocketing property prices. These make it increasingly difficult for locals to find affordable homes. According to local reports, demand from international buyers has surged, intensifying competition in an already limited housing market.
Same sentiments as in other tourist hotspots
This social tension is not unique to Mallorca. Similar sentiments have been observed in other tourist hotspots across Europe where local populations feel pushed out by affluent foreign investors. Last summer residents of cities like Palma, Barcelona, Málaga, Sevilla, and Cádiz took to the streets in massive manifestations for fairer housing.
Now, the frustration is so high that on April 5, thousands of people will take to the streets across Spain for the first national demonstration for housing rights. Unions and housing organisations, including the Sindicato de Inquilinas, are calling for massive participation to draw attention to what they call a “collective suffocation.” Protesters will demand immediate action from the government to resolve this housing crisis.
Complex issue
The issue of foreign property ownership in Mallorca is complex. On one hand, international investment stimulates the local economy, supporting jobs and businesses. On the other, it contributes to a housing shortage that disproportionately affects residents with lower incomes. Some see themselves forced to live in motorhomes or even tents because they can´t afford proper accommodation.
Local authorities have been under pressure to implement regulations to curb foreign investment in residential properties. Proposals include restrictions on non-resident buyers or higher taxes on second homes owned by foreigners. However, these measures face criticism for potentially harming the real estate market and tourism sector. Furthermore, they would conflict with European regulations. European Union (EU) community policy prevents discrimination in the purchase of housing based on factors such as residence or nationality.