Spain Plans to Impose 100% Tax on Property Purchases by Non-EU Buyers
Spanish Prime Minister Pedro Sánchez has announced the government’s intention to introduce a tax equivalent to 100% of the property’s value for buyers who are not citizens of the European Union. This initiative aims to address the housing crisis exacerbated by rising property prices and rents in the country.
According to government data, in 2024, non-EU residents purchased approximately 27,000 residential properties in Spain, often for investment or vacation purposes. This trend has contributed to increasing prices and reduced housing availability for local residents.
The proposed tax seeks to limit speculative purchases and prioritize housing access for citizens of Spain and the EU. However, experts have raised concerns about the measure’s effectiveness and its potential impact on the real estate market.
Details regarding the implementation of the tax and its mechanisms are currently being developed by the government. Additional measures, such as constructing state-owned housing and increasing taxes on short-term rentals, are also expected to be part of the strategy to resolve the housing crisis.