Spain Proposes 100% Tax on Non-EU Property Buyers to Address Housing Crisis

Spain is set to introduce a bold measure aimed at tackling its housing emergency. Socialist Prime Minister Pedro Sánchez has announced plans to impose a tax of up to 100% on properties purchased by non-residents from countries outside the European Union.

Describing the move as "unprecedented," Sánchez emphasized the need to prioritize housing access for citizens amid skyrocketing property prices and growing inequality in the real estate market. The proposed tax is part of broader reforms intended to curb speculative buying by foreign investors, which has been blamed for driving up housing costs in key regions across Spain.

The measure has sparked debate, with supporters hailing it as a necessary step to address the housing crisis, while critics warn it could deter foreign investment. As discussions unfold, the world will watch closely to see how this bold strategy shapes Spain's real estate market and housing policies.