There is undeniably some truth to the charge that Mallorcans have been only too willing to sell properties to foreigners. When a German buys, it's because a Mallorcan is selling; this has become something of a common adage in property circles.
Financial gain is a reason, but lawyer Miquel Àngel Mas explains that there are other reasons, because sellers are left with no other choice.
Inheritance can be the cause. "Property prices are so high that when heirs inherit a house, they have no choice but to sell because they don't have the financial means to buy the other part." He knows of examples of this involving two siblings and properties in Calvia, Pollença, Sanytanyi and Soller.
"Before, they could buy. Now it's impossible, and they have no choice but to put it up for sale because they can't afford to buy. Property is dynamic; it’s not fossilised."
The problem is growing, and this process of selling off property, which began in municipalities with high foreign buying activity, such as the four municipalities mentioned, now also affects Palma.
Inheritance isn't the only cause, as Mas points to the impact of separations. "While the children are young, it’s common for the mother to stay in the property, but high prices force her to sell when that situation ends because neither of them can afford to buy the other half."