Spain proposes 100% tax on homes bought by non-EU residents

[highplainsdem]

Source: Guardian

Spain has announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK, in an aim to tackle the country’s housing crisis.

The measure was one of a dozen unveiled Monday by the country’s prime minister, Pedro Sánchez, as the government seeks to quell mounting anger over housing costs that have soared far beyond the reach of many in Spain.

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Sánchez described the tax of up to 100% as “unprecedented” in Spanish history. “Just to give an idea, in 2023 alone non-European Union residents bought around 27,000 houses and flats in Spain. And they didn’t do it to live in them, they didn’t do it for their families to have a place to live, they did it to speculate, to make money from them, which we – in the context of shortage that we are in – obviously cannot allow.”

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The government’s slate of measures also took aim at tourist flats, which have long been blamed for shrinking the rental supply and leaving locals priced out of the market.

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Read more: https://www.theguardian.com/world/2025/jan/13/spain-proposes-100-tax-on-homes-bought-by-non-eu-residents