Spain’s Prime Minister Pedro Sanchez has proposed a range of measures to tackle the country’s housing crisis, including a tax of up to 100% on property purchases by non-European Union buyers. The plan aims to curb speculation and encourage genuine home ownership.
According to Sanchez, the current surge in Airbnb rentals is exacerbating the shortage, with around 27,000 homes bought by non-residents in 2023. The new tax would target UK, US, and other foreign buyers who purchase properties primarily for speculative purposes.
The government’s proposal also includes higher taxes on short-term rental apartments, which would encourage investors to pay business taxes like regular tenants. Critics, however, argue that the plan lacks details on implementation and may not effectively address the root cause of the crisis.
Sanchez’s minority government faces challenges in parliament, where its 2025 budget has yet to receive approval. The coalition partner Sumar party has welcomed the housing proposals but demands more comprehensive measures.
The government is already working to boost home supply through a public housing body overseeing 3,300 homes and 2 million square meters of land for development.
Source: https://edition.cnn.com/2025/01/14/business/spain-property-tax-non-eu-buyers-intl/index.html