The Spanish government is pushing ahead with a 100 per cent sales tax on home purchases by non-resident/non European Union citizens in a controversial move which could hit the sale of holiday homes to thousands of British citizens. The tax is aimed at cooling Spain's booming property market which has left millions of Spaniards being unable to buy a home. Foreign buyers are being blamed. The tax is nationwide.
A bill was presented to the Spanish parliament by Prime Minister Pedro Sánchez, this week seeking to promote “measures that enable access to housing, since we are facing one of the largest problems our society is currently confronted with”.
Real estate agents and property experts consulted by the Bulletin have said that they seriously doubt whether the tax will be introduced as a result of Sanchez's lack of a majority in parliament. However, they warned that even the threat of it is enough to scare off prospective buyers.
Sanchez told an economic forum earlier this year that foreign buyers had bought thousands of properties “not to live in, but to make money from them – which, in the context of the shortage that we are in, we obviously cannot allow”.
It appears that Non-European Union citizens are being targeted because other it would break European Union law on the freedom of movement.
In Mallorca there are signs that the property market is cooling. A large percentage of home sales on the island are to foreign residents, mostly Germans. This law, if it was ever introduced, would make the problem even bigger.
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PaulGAny EU citizens are not affected. Not just Germans!
Morgan WilliamsIt’s the American way . Well for this administration anyway. It’s wise not to poke a grisly bear.
Ulla JacksonIt's the "victim card". Helps Britons feel bett about no longer being the center of the universe (wasn't our fault). And makes good clickbait.
NilocIt's always makes better headlines if it target British rather than ALL non EU citizens.
David Holland“ any state that discriminates against USA citizens in a unfair way “ Translation; “ any state that does not provide the USA with all advantages, exceptions, and privilege over all others (with free stuff and bigly profits)". ... is gonna have a hard time. (e.g., 5 trillion percent tariffs).
Bryan AdamsIt would have to be Boeing.
David HollandWe could give him a plane? A big plane?
Tax this, tax that, and do sweet FA with the proceeds. And some silly excuses as to why this revenue shouldn't build affordable housing.
Why does this paper always allude to ' Britons' being targeted, when in fact its 'Non EU's'
PaulGPlaying to the fear of the “ other “ Of course the fact that most properties are purchased by Northern European 🇪🇺 people that can’t be controlled is their biggest unsolvable problem. Spain is also bound by WTO rules. That may also need consideration…