Shares of Spanish residential real estate developers were partly recovering on Tuesday after a government plan to raise taxes on housing had prompted a selloff the day before. Shares of Neinor Homes (HOME.MC), Aedas Homes (AEDAS.MC), Metrovacesa (MVC.MC), and Inmocemento (IMCO.MC), all took a hit on Monday after Spanish Prime Minister Pedro Sanchez announced a plan to raise taxes on holiday rentals and set a tax of up to 100% on purchases of houses by non-European Union foreigners living abroad.
Spain's housing shares inch up after selloff prompted by government measures
Spanish Prime Minister Pedro Sanchez announced a plan to raise taxes on holiday rentals and set a tax of up to 100% on purchases of houses by non-European Union foreigners living abroad on Monday
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