
Spanish government plans 100% tax on homes purchased by residents from non-EU countries

Spain is planning to impose a tax of up to 100% on properties purchased by residents from non-EU countries, such as the UK, according to the BBC.
Announcing the measure, Prime Minister Pedro Sanchez said the "unprecedented" measure was necessary to meet the country's housing emergency.
" The West faces a crucial challenge: Not to become a society divided into two classes, the wealthy landlords and the poor tenants," he said.
" Residents from non-EU countries bought 27,000 properties in Spain in 2023, not to live in them, but to make money from them," he said at an economic forum in Madrid.
"Which, in the context of the shortage we are in, we obviously cannot allow ," he added.
" Therefore, the movement prioritizes making homes available to residents ," he said.
Sanchez did not provide details on how the tax would work nor a timeline for presenting the measure to parliament for approval, where he has often struggled to gather enough votes to pass legislation.
But his government said the proposal would be finalized after careful study.
Other measures announced include a tax exemption for landlords who provide affordable housing, the transfer of more than 3,000 homes to a new public housing authority, and stricter regulations and higher taxes on tourist housing.
" It's not fair that those who have three, four or five short-term rental apartments pay less taxes than hotels ," he said.
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