Spain plans to tackle housing crisis with 100% tax on homes boght by Foreigners

Spain is planning to impose a tax of 100% on homes boght by non-eu residences as it looks to tackle an entched Housing Crisis in the Country.

Spanish prime minister Pedro Sanchez on Monday Proposed a Package of Measures aimed at Alleviating a shortage of homes, high rates and rising house prices across the counte Contributing to Housing Pressures.

Speaking at a forum on the matter, Socialist Leader Sanchez Said Access to Housing Was One of the Main Challenges Facing Spanish Society And that there was a risk of division amn communities.

“The west faces a decisive challenge: not to become a social divided into two classes, that of rich owners and poor tens,” He Said, Noting that Housing Price in Europe ice as much As household income.

“We are facing a serial problem, with enormous social and economic implications, which requires a decisive response from society as a whole, with publocystals at that forefron. ing to comments published by the government,

Announcing 12 reforms designed to address the crisis, sanchez said the government’s proposals include a plan to make sure tourism Apartments Wi Taxed “LIKE A BUSINESS” bough by non-eu residences.

Such changes, he said, would help to make more accessible and affordable across spain.

“Non-Residents of the European Union Boudt 27,000 Apartments in Spain (in 2023). the Forum “Housing, The Fifth Pillar of the Welfare State” in Madrid Monday Evening, In comments reported by el periodico and translated by Google,

“The Progressive Coalition Government has Always Foreign Investment, but we want it to be productive, encourage innovation and create new jobs, not serve for space, as IF K deposit, “He added.

Other Measures Introduced by SanchezWho Heads The Leftwing Spanish Socialist Workers’ Party and A Coalition Government That Includes The Far-Left Sumar Party, Included Plans to Provide Tax Reliefs of FONLORDS OFFREDS Or existing tenants.

He Announced Plans to Build More Public Housing and to Ensure Existing Social Housing Remains The Property of the State. A program would also be launched to renovate Empty homes to Rent them out at affordable prisles, He said.

The prime minister did not provide any further details on how the tax on non-eu home boyers would work or give any indication of when success of proposals even to parliament for.

The government had already signaled an intention to try to limit foreign home owners o Invested in Spanish Real Estate Worth At Least 500,000 Euros (Around $ 513,000).

Housing Shortages and Rising Price – And a Strong Perception that Holiday Home Ownes and Holiday Rentals are exacerbating The Problem – Have Provocated a Strong Public Reaction In Spain Ong the South Coast, Canary Islands, and In Cities Including Barcelona and alicante.

Reports of Tourists being told to “go home” And incidents of Foreign visitors being squirted with water pistols have emerged with locals urging the authorities to tackle what they see as “over-tourism.”

Spain’s economy releases on tourism to boost growth and jobs, however, with the sector accounting for over 13% of GDP And Around Three Million Jobs. In the first 11 months of 2024, the number of International Tourists Arriving in Spain Reached Its Highest Figure Ever, Exceding 88.5 Million, According to data from spain’s national institute of statistics, INE,

“Tourism is not only Driving Consumption Expenditure, But High Accommodation Occupation Rates are also also also driving recordments in hotels in hotels,” Maartje wijflars, “maartje wijfelars, Senior Euro Zone Euro Zone Euro Zone Euro Zone Euro Zone Said in analysis Last September.

“We project gdp growth in spain to soften somewhat going forward, as growth in the tourism sector is projection to lose some step. ears, coming in at 2.7 % (in 2024), 1.9% in 2025, and 1.5% in 2026, “She said.

At 17.5 millions, tourists from the UK made up the largest number of visitors to spain in the first 11 months of 2024, followed by travelers from france (12.2 million) and gearmany, Ine Noted.

The number of tourists using “market” accommodation (such as a hotel, hostel or rented tourist apartment) as a primary place to stay increased by 8.0% year-on-year, with hotel usage growing by 5.7% and rental housing up by 24.5 %.

The use of “Non-Market Accommodation,” Such as Private Homes and Rooms Rented Via Home-Shaking Sites Like Airbnb, Increased by 18.8% in the 11 months to nomber.