'The government is not rejecting the idea of banning the sale of homes to foreigners in Portugal, as the sector warns.'

In contrast to Canada and the Balearic Islands, banning non-residents from selling to foreigners is not yet in the Portuguese government's plans.

In Canada, non-residents have not been able to buy homes since the beginning of this year, a pledge made by Prime Minister Justin Trudeau during the election campaign. He believes foreigners are responsible for rising prices in the country, and failure to comply with the law carries fines of up to 10,000 euros and an obligation to sell the home.

After Canada, local authorities in the Balearic Islands have also announced their intention to introduce a similar ban. Ibiza, Mallorca, Menorca and other islands want to pass such legislation, citing the fact that foreigners buy houses for vacation and after the summer season in the county''ghost townships' with empty homes are appearing.

There are no plans for a ban in Portugal yet, but the government is studying measures that will ease access to the housing market and will conduct a study comparing the actions of other European countries.

According to Portugal's National Statistics Institute, only 6.6% of apartments sold in the third quarter of 2022 were purchased by non-residents. The bulk of buyers are residents of European Union countries. A ban on home purchases could only affect non-residents of the EU, as there would be problems with compliance with intra-Community rules''countries, as well as difficulties in respecting private property rights. Thus, banning foreigners from buying housing is not a solution to the problem of access to housing and does not have a significant impact on prices.