The measure is meant to help tackle the country's housing crisis, the prime minister said.

Summary

Spain plans to introduce a tax of up to 100% on properties purchased by non-EU residents, aiming to address a housing crisis.

The measure would limit property purchases for investment purposes by foreigners, prioritizing homes for residents.

The proposal, inspired by similar policies in Canada and Denmark, is part of broader efforts to improve housing affordability.

Other measures include tax exemptions for affordable housing landlords, tighter tourist rental regulations, and transferring thousands of homes to public housing programs.

Details and a parliamentary timeline are pending.

  • @dogslayeggs
    20•16 hours ago

    As someone who wants to retire in Europe and be able to buy property there, I still support this. If I can’t buy until I get citizenship, then fine. It isn’t ideal, but I fully support ending home ownership by corporations and foreign people.

    I also love the disconnect in this quote here: “Here in the UK, we also have problems with landlords buying multiple properties and driving up the rest, but this policy is losing sight of those of us who want to spend money in the country.” They fully recognize how home ownership by people who don’t live in the homes ruins things, but then they think spending money on food and gas totally makes up for taking away affordable shelter from the restaurant worker or gas station attendant.

  • aviationeast
    34•21 hours ago

    Hopefully that includes any purchase by any company/llc.

    • @SkyrmirEnglish
      33•20 hours ago

      Don’t worry any foreign company can just open an office in Spain so their Spanish subsidiary and ignore this tax.

      • @TyfudEnglish
        5•16 hours ago

        Yup. When we were in Portugal looking for vc funds to invest in, most of the real estate funds were owned by UAE backed investors, but had an office in PT to get around this law.

        This will, unfortunately, solve few problems for Spain.

  • Optional
    11•19 hours ago

    Brexit pays off again!

  • @Magister
    -4•20 hours ago

    in Canada? lol, I think here that a “foreign student” can buy a local house without paying tax, billionaires find a way to avoid it don’t worry.

    • @[email protected]
      13•18 hours ago

      Stop spreading lies and xenophobia. The measure is temporary and expires in 2026 but non citizens or permanent residents currently cannot purchase residential property in Canada.

      https://laws-lois.justice.gc.ca/eng/acts/P-25.2/page-1.html

      The real issue is investment properties and the call is coming from inside the house. Whether they be small individual investors or large corporations.

    • @[email protected]
      3•17 hours ago

      This article is about Spain, not Canada. Your personal opinion on your country’s laws isn’t part of this discussion.

      • @dogslayeggs
        3•16 hours ago

        The proposal, inspired by similar policies in Canada

        The article doesn’t talk about Canada, but OP brought up Canada so it is now part of the discussion.