Spain's Socialist Prime Minister Pedro Sanchez announced a series of measures aimed at addressing the country's housing crisis, including a drastic 100 percent tax on homes purchased by non-European Union foreigners. This initiative seeks to ensure that housing remains accessible to Spanish residents and migrants contributing to society. Sanchez emphasized the need to confront the negative implications of foreign investment in real estate, considering the ongoing protests against tourism and rising prices in cities like Barcelona and Seville. His proposals also include higher taxes on holiday rentals, aiming to create a more equitable tax structure for property owners.
Sanchez aims to deter non-European Union residents from buying houses in the country, claiming that housing should be for Spanish people and working migrants.
The 100 percent tax will impact overseas buyers who purchased over 27,000 apartments in 2023—common speculation rather than genuine residency.
Collection
[
|
...
]