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Spain is planning to impose a 100 per cent tax on actual property for consumers from non-EU international locations such because the UK in a bid to enhance housing affordability by deterring international purchases.
Prime Minister Pedro Sánchez introduced the plan for the punitive property tax, which might apply to non-EU residents who aren’t EU residents, as a part of a raft of measures aimed toward tackling a “grave” housing disaster.
Spain is considered one of many European international locations the place public anger is mounting over the problem of discovering reasonably priced housing, as property costs soar and building lags far behind demand.
“The west faces a decisive problem: to not grow to be a society divided into two lessons, the wealthy landlords and the poor tenants,” Sánchez mentioned as he unveiled a set of 12 measures.
This can be a growing story
