In a bold move to combat its worsening housing crisis, Spain has proposed a 100% tax on property purchases by non-EU citizens who do not reside in the EU.
The measure, announced by Prime Minister Pedro Sánchez, aims to curb foreign real estate investments that are driving up housing costs and limiting availability for locals.
“We cannot allow speculative purchases to deepen the housing crisis. This measure is about ensuring homes are for people, not just for profit,” Sánchez said during a press conference unveiling the proposal.
The tax, which will require parliamentary approval, is part of a broader package of 12 initiatives designed to address housing affordability. Spain’s
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