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Spain Plans 100% Tax For Homes Bought By Non- E U Residents

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naomi24 | 11:37 Tue 14th Jan 2025 | News
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//Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

"The West faces a decisive challenge: To not become a society divided into two classes, the rich landlords and poor tenants," he said.

Non-EU residents bought 27,000 properties in Spain in 2023, he told an economic forum in Madrid, "not to live in" but "to make money from them".//

 

https://www.bbc.co.uk/news/articles/cr7enzjrymxo

 

Foreign residents, foreign landlords or tourist tenants, foreigners are a major factor in the country's economy and all are spending their money in Spain, so is Spain shooting itself in the foot with this ill-considered initiative that can only encourage new buyers to spend their money elsewhere?

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I wonder what the implications would be for foreigners who already own properties there?

They seem determined to commit economic suicide. What with this and all the anti tourist measures. Madness.

Well, at least there will be a loony-bin not that far away and sympathetic to their cause that we can dispatch Stormtrooper, Peeves, Jammy and Stranger off to when they get pushed out/ expelled. ¡olé!

what does 100% even mean 100% of the value? one off?

Question Author

I read it as 100% of the sale price.

Interesting stats here.....    https://www.statista.com/statistics/445784/foreign-population-in-spain-by-nationality/

Any reaction yet from the Moroccans, Colombians, Venezuelans or even the Chinese?

There are 206k Spaniards here.....time for some extra tax on them, Keir and Rachy....

 

 

I was surprised to hear of this news, as the last time I heard there were hundreds of thousands of empty properties in Spain.  This is a typical article from 2023:

https://murciatoday.com/almost_half_a_million_vacant_new_builds_in_spain_that_no_one_wants_to_buy_2174512-a.html

 

Question Author

The property market in Spain has been painfully slow for a long time.  I think the PM's idealistic political leanings have leant a bit too far and toppled him over.

From what my boss tells me,the ordinary Spaniard prefers us Brits to the EU lot.If Bojo hadnt made such an *rs* of Brexit methinks a lot of other European countries would be holding their own referendum exits from the EU.

Their choice, but unlikely to help the tourist industry.  Have to wait & see how that pans out for them.

 

If it gets applied to residents, well there must be better ways to discourage immigration; besides it'd be those of either no fixed abode or so poor they're a drain on the economy they ought to be more concerned with.

Boris did the best possible given the EU demands and reluctance to be reasonable. Any present issues are down to governments since failing to state how unworkable it is, how it causes problems for the economy in order to trigger proper renegotions and an amended agreement (or alternatively a scrapping of the present one, despite the late hour).

Actually I dont have too much of a problem with the idea of it, we have similar problems her in the UK.

If you are a resident then fine but if you dont live in it then it creates ghost villages and all local amenities start closing plus the locals can no longer afford to live there.

IMHO I think Spains biggest problem are the air-b-n-b's.  These take business from the Tourist industry(often avoiding taxes too) and are in residential areas totally unsuitable for tourists and drive locals out.  They should be banned apart from in designated areas and also classed as Hotels and have all the appropiate taxes and regulations on them.

 

It won't affect non-EU citizens that already have Spanish residency.

according to the Mirror today, (MSN News), France and Portugal are thinking of getting in on the act too. 

I reiterate Starmer and Reeves need to think about retalitory taxation on any country's foreign residents buying property here in the UK if they do introduce such property taxes.

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I don't think we should sink to the depths of retalitory action.  Their decision will hurt them far more than it hurts anyone else.

Spain has taken back control. They're fed up of rich foreigners buying up all their affordable housing so the locals can't get a look in.

Massive tariffs on foreign imports. It's the way forward.

I wonder if Cornwall can do something similar 🤔 

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