The government will propose to ban foreigners who are not EU citizens from buying houses in our country if neither they nor their families live here and, therefore, are engaged in speculation, Sanchez said recently at a rally of the Socialist Party.
According to him, in 2023, non-residents from non-EU countries bought about 23,000 houses and apartments in Spain. At the same time, the housing shortage in the country is approximately 200,000 units per year.
Earlier, Sanchez proposed introducing a 100% tax on the purchase of real estate by non-EU citizens.
With such radical actions, the Socialist Prime minister plans to fight the growing housing crisis. Among other measures included in the 12-point program are the construction of more public housing, providing financial guarantees to young tenants, and raising taxes on short-term rental properties.
The shortage of affordable housing in Spain has become a central topic of discussion, and all major parties are putting forward proposals to stimulate construction and curb price increases, including in the capital, Madrid.Any of Sanchez's proposals to impose a 100 percent tax on the purchase of real estate or to impose a total ban will require parliamentary approval, and this is far from guaranteed.Sanchez heads a minority coalition government and has struggled to pass laws in recent months.
Source: Bloomberg