Spain plans 100% tax for homes bought by non-EU residents

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The measure is meant to help tackle the country's housing crisis, the prime minister said.

It added: "The tax burden that they will have to pay in case of purchase will be increased up to 100% of the value of the property, in line with countries such as Denmark and Canada.

Martin Craven, from London, said he had been looking to buy in Spain this year."I definitely wouldn't consider trying to get in before this tax, because who knows what else they could do, a retrospective tax or a tax on existing owners," the 62-year-old said."I'll be looking at Cyprus now instead.

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Article Details

Category: Business

Markets: United KingdomCanadaCyprusDenmarkPortugalSpain

Topics: Property Spanish 100% Homes Properties Housing Spain Been Buying Other

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2025-01-14 @ 17:27:55 (2 days ago)

News Timezone: GMT +0:00

News Source URL: bbc.com

Language: English

Article Length: 1048 words

Reading Time: 6 minutes read

Sentences: 28 lines

Sentence Length: 38 words per sentence (average)

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Copyright Owner: © BBC Business

News ID: 25194983

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