Banks may face property stock fines in Mallorca

THE President of the Balearic Government, Francina Armengol, has said that banks which have empty apartments available may face tax fines.

She said this may be included in a future housing law, but maintained that steps will be taken to dialogue and reach an agreement before proceeding to fine them.

She also said that an agreement will soon be reached with a bank to offer their available properties to people in need at a low rental price.