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Spain may introduce a tax on the purchase of real estate by foreigners from outside the EU

14.01.2025
Homesoverseas.ru editorial office
164
Spain plans to introduce a 100% tax for non-EU home buyers. The Government will send the relevant proposal to the Parliament for discussion.

Just for the record: in 2023 alone, residents of countries outside the European Union bought about 27,000 houses and apartments in Spain, and they did not do this in order to live in them with their families, they did it for speculation, to earn money, which We cannot allow it in the current circumstances," said Prime Minister Pedro Sanchez.

It should be noted that this measure is one of a set of measures proposed by the government to increase housing affordability. Among the possible changes is the introduction of VAT on the rental of resort housing.

Spain's long Mediterranean coast is popular among foreigners looking to purchase resort properties.

Housing prices in some regions, in particular in the four Balearic Islands, have increased significantly, which has led to the displacement of local residents from the market.

There is a shortage of new homes in Spain. According to Sanchez, 90,000 new housing units are being built annually, while the demand is 300,000.

Sources: Bloomberg, Economia

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