Spain plans to introduce a 100% tax on property purchases by non-EU residents, t…

🇪🇸Spain plans to introduce a 100% tax on property purchases by non-EU residents, the BBC reports.

Prime Minister Pedro Sánchez said the “unprecedented” measure was necessary to address the country’s extraordinary housing problem. He said non-EU citizens had bought 27,000 properties in Spain in 2023 “not to live there” but “to make money”.

“The West faces a critical challenge: not to become a society divided into two classes: rich landowners and poor tenants,” he said, without specifying a time frame for introducing such a tax.