Spain PM proposes 100 pct tax on homes bought by foreigners ...Middle East

Sánchez said the measure would impose a 100 per cent tax rate on the value of the property for non-EU citizens who do not reside in Spain when they buy a house in Spain, in order to “prioritise” housing for residents and fight the “speculative touristic use of properties”.

“In 2023 alone, non-EU residents bought around 27,000 houses and flats in Spain. Not to live in them, not for their relatives to live in them; they did it mainly to speculate, to make money off them,“ Sánchez said.

The prime minister also said he would propose taxing tourist housing “as what they are, a business”.

In recent months, there have been demonstrations for affordable housing as well as protests against high rents and the impact of mass tourism across Spain.

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