Spain proposes a 100% tax on home purchases by non-EU residents, a move that may impact buyers from the USA, UK and Latin America.
This proposal comes as part of a wider package designed to combat Spain’s housing crisis. The country has a severe shortage of new homes, and often sees non-EU residents buying properties for profit, leading to increasing housing prices.
The proposal is scheduled to be sent to Parliament for approval.
My Take…
I personally don’t see this passing, it appears to be a few saber rattling right now.
If it does pass, that will be the end of Airbnb and similar services in Spain.
For more details click on the link:
https://financialpost.com/real-estate/spain-wants-to-charge-100-tax-on-non-eu-residents-buying-houses
