Spain scares off foreign property buyers with new tax threat

Spain scares off foreign property buyers with new tax threat

Amid rising real estate prices, Prime Minister Pedro Sanchez wants to impose a 100% tax on property bought by foreign speculators. How does the plan compare with other countries where housing affordability is an issue?

How Spain's 100% tax on non-EU property buyers will work

Following the international news that Spain will try and stop non-EU non-residents from buying property by taxing them at 100 percent, many have wondered how it'll actually work in practice. Here's what we know so far.

Spain's planned 100% property tax for non-EU buyers could hurt more than it helps, economists say

Spain has moved to put a 100% property tax on non-EU homebuyers.John Keeble/Getty ImagesSpain's planned 100% tax on non-EU homebuyers is unlikely to solve its housing crisis.Spain's prime minister said too many foreigners were buying properties as investments, not homes.But hiking taxes could discourage buyers and hurt Spain's economy, economists told BI.Spain's plan to impose a 100% tax on homebuyers from non-EU countries like the US and UK may…

How will Spain's hefty new property purchase tax for non-EU buyers affect the Costa del Sol?

Concern abounds in the residential tourism sector with warnings that the announcement alone has already created market uncertainty

International buyers dominate over 80% of the Alicante property market

The Government’s proposal to impose a surcharge on property purchases by non-EU buyers will have significant repercussions for Alicante’s real estate sector. The impact would be particularly severe in areas heavily reliant on residential tourism, such as Vega Baja. This region, a major economic driver for Alicante, includes the municipalities of Torrevieja and Orihuela, the two largest hubs for foreign property buyers in the province. In Torrevi…

Pedro Sánchez has announced that he wants to introduce a tax of “up to 100%” on the purchase of real estate by non-residents and non-EU nationals The wish of