The Spanish government is taking decisive steps to tackle a major housing crisis by proposing a 100 percent tax on real estate purchases by foreigners outside the EU. This initiative, presented by Prime Minister Pedro Sanchez, aims to address widespread dissatisfaction over rising housing costs, which have surged by nearly 50 percent over the past decade in Spain. Additionally, there are plans to regulate short-term rentals, reflecting a broader trend across Europe where affordable housing is becoming increasingly scarce due to high demand and rising costs driven by various economic factors.
The Spanish government is implementing a 100 percent tax on real-estate purchases by non-EU buyers to combat a housing crisis impacting affordability in cities.
Prime Minister Pedro Sanchez proposed measures to halt foreign real estate purchases and control short-term rentals amidst escalating housing protests across Spain.
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