Spain Proposes 100% Tax on Homes Bought by Non-EU Residents
In a bold move to address its ongoing housing crisis, Spain is considering a 100% tax on property purchases made by non-EU residents, including potential buyers from the UK and the US. The proposal aims to limit the number of foreign investors in the real estate market, which has been accused of driving up property prices and exacerbating the housing issue for locals. Critics are raising concerns that this drastic measure could significantly impact British expats and other non-EU buyers looking for homes in Spain, sparking debates about its potential effects on the housing market and tourism. There are fears that such a tax could end the dream of owning a home in Spain for many foreign nationals, while proponents argue it may lead to lower rents and more availability for residents.
BBC.com, The Associated Press, Financial Times, CNBC, Reuters, Sky News, Bloomberg, The Telegraph, EURACTIV, Finimize