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News in English (USA) / 14.01.2025 / 21:00

Spain Proposes 100% Property Tax for Non-EU Home Buyers as Part of Housing Crisis Response

Spain is considering implementing a radical 100% tax on homes purchased by non-EU residents, a move aimed at addressing the ongoing housing crisis. The proposal has been echoed by the Prime Minister amidst concerns over an influx of foreign buyers contributing to rising property prices and a shortage of affordable housing for locals. With fears that this new tax could significantly impact British expats and other foreign investors, there is growing anxiety among potential buyers. The announcement of this tax comes in tandem with the discontinuation of popular programs like the golden visa for non-EU nationals, sparking debates about its potential xenophobic implications. Critics argue that such measures may not pass easily in Parliament and could drive away foreign investments in the housing sector.
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