Spanish Prime Minister Pedro Sánchez will propose a ban on non-European Union citizens buying homes in the country as part of a wider attempt to combat the housing shortage.
Sánchez said on Monday:
“The government will propose to ban non-EU foreigners from buying homes in our country if they and their family members do not reside in Spain and therefore engage in speculation.”
He also noted that in 2023 non-EU buyers bought in the country 23 thousand properties. At the same time Spain is experiencing a shortage of 200 thousand new homes annually.
Shortly before the Minister has already put forward a similar proposal, but then it was only about limiting the sale of housing by foreigners by introducing a hundred per cent tax on such transactions. Each of these measures must be approved by Parliament before they can take effect. Sánchez heads a minority government and his proposals have been rejected several times in recent months.
Financial Times reported that mainly property in Spain are purchased by the British, followed by Moroccans. Citizens of the United States, Mexico and Venezuela are also interested in property in Spain.
Last week, Asssociated Press with reference to a source wrote that the Spanish Government is going to introduce a 100 per cent tax on the cost of real estate purchased by citizens of countries that are not part of the European Union.
