Spanish Prime Minister Pedro Sanchez proposed on Monday a collection of measures to deal with a housing disaster within the nation, together with a 100% tax on the acquisition of houses by non-resident non-EU foreigners.
Sanchez mentioned the measure would impose a 100% tax charge on the worth of the property for non-EU residents who don’t reside in Spain after they purchase a home in Spain to “prioritize” housing for residents and combat the “speculative touristic use of properties.”
He instructed an financial discussion board in Madrid that the “unprecedented” measure for Spain, however already in place in nations comparable to Canada and Denmark, was “appropriate and very necessary” when contemplating the present housing disaster.
“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,” Sanchez mentioned.
He added that in a context of residential scarcity, this can’t be “allowed,” asserting that Spain’s authorities welcomes international funding when it’s “productive,” not when it’s speculative.
The Spanish prime minister additionally mentioned that he would suggest taxing vacationer housing “as what they are, a business.”
The measures have been amongst a broader package deal to handle Spain’s housing disaster, offered by Sanchez on Monday. They additionally included the switch of greater than 3,300 homes to a brand new public housing firm and state assist for younger renters.
In latest months, there have been demonstrations for reasonably priced housing, protests in opposition to excessive rents, and issues in regards to the impression of mass tourism in Spain.
Source: www.dailysabah.com