Spain proposes 100% tax on property purchases for non-EU buyers

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Spain plans to impose a 100 percent property tax on buyers from non-EU countries such as the UK in a bid to improve housing affordability by discouraging foreign purchases.

Prime Minister Pedro Sánchez announced plans for a punitive property tax to apply to non-EU citizens who are not EU residents as part of a series of measures to address the “severe” housing crisis.

Spain is one of many European countries where public anger is growing over the difficulty of finding affordable housing as property prices soar and construction lags far behind demand.

“The West faces a decisive challenge not to become a society divided into two classes: rich landlords and poor tenants,” Sanchez said as he announced the series of 12 measures.

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