Kick off 2025 with a chance to win a $2,000 flight voucher to any destination of your choice + free access to our exclusive How to Move Out of the U.S. Seminar! ✈🌎 🏝Don’t miss this opportunity to start your dream adventure abroad. 👉🏻Enter now! intliving.com/winfreeflightsyt 🗺
Great update. It's probably hard to determine the likelihood of the bill actually passing, but just the fact that it is being discussed beings up the risk of being shut out of the housing market.
So much needed talent from outside the EU would never consider taking a job in Spain. A British doctor, for example, would not take a job in Spain if he was being charged double the market price for every property.
@@seansixfive this, but almost ANY british doctor DONT want to work in spain because britain has WAY bigger salaries... What happens is AFTER working as a doctor, the british EX doctor wants to RETIRE in spain (without working)... This will keep a few away, witch is good for spanish people since they are not COMPETING FOR their HOUSES with rich ritired americans anymore
It applies to all non-EU countries. There is no targetting of any individuals from specific countries. Citizens of EU countries are exempt because of the EU charter that allows free movement of citizens between member states.
It does not come from the free movement of citizens but rather from the fact that EU citizens can not be treated differently from nationals if they have the same status (for instance residency). Spain could very well make a tax for non-residents (EU residents or otherwise).
US one of the largest real estate investments you Dont want to lose this and if the plan to create more jobs in US you need more investors you need to make the country more open without discrimination
It is necessary to stop the land grab by foreign companies and foreign governments which have set up companies in Spain to buy real estate. These entities are driving up prices and hoarding real estate.
@ But not in the major cities where most people in Spain live and where the real estate is being bought up. You must be referring to the towns and villages where everyone is leaving to move to the cities.
@@jordanzeek2829Empty for a REASON. They are owned by the rich people/corporations, many of them FOREIGN, and no middle class or poorer Spaniard can EVER buy them.
Just one query for me you mentioned that digital no man Visa requires the individual to remain in Spain for long period but I think in the case of Spain that’s not true
It's not a 100% tax, it's the removal of the tax breaks. So non-EU non residents will have to pay 100% OF taxes, without the breaks they currently get.
@@rufusreloaded1043 In 2000 the Company I worked for had a contract with the Spanish Navy for equipment for the F100 Frigates. The Spanish Naval Officers suggested I visit Spain. Now the Spanish Citizen are telling Americans NIT to visit. The U.S. Government too could limit residence Visas and impose 100% sales tax (there is already around 8% tax. There is generally no sales tax on real estate in the USA) on real estate transactions by Spaniards and EU Citizens and relocate the U.S. Navy Destroyers out of Spain and drastically reduce NATO spending. Why pay for the defense of Europe when they are effectively economically banning real estate purchases by Americans?
The proposed 100% property tax by Spanish Prime Minister Pedro Sánchez is not intended to double the purchase price of a property. Instead the “100% tax” refers to an additional charge on property holding costs.
I don't believe the 100% tax will ever happen. My understanding is that this property tax is not a Spain wide tax. Each of the 17 autonomous communities collect the property tax specifically for that community. I seriously doubt you will ever get that kind of agreement here in Spain. With the amount of misinformation spreading that this tax is definitely going to happen the price of houses is already going up further regardless of the amount of non EU buyers in the market.
What do you think will happen to non EU/non resident holiday homes if they donate/gift/transfer these homes to relatives who are non EU/non residents? Will this potential increased taxation (if it gets passed) apply? Or if holiday homes are inherited by non EU/non resident beneficiaries would this tax apply?
Apparently there is 2 proposals been put forward by the Spanish government 1 application is to introduce 💯 % purchase tax on property for use as a holiday home for none EU citezens and number 2 application is to completely ban all none EU citezens from purchasing a property for holiday home use... on a none resident basis.
After watching this whole video I am still confused about EU residence and EU citizenship. I am officially a documented tax-paying resident in France. I am considering buying a home in Spain and splitting equally my time between winter in Spain and summer in France. In effect I want to own a home and Spain and be resident in France. So, to avoid the 100% extra duty, do I need an EU passport or will EU residence documentation be enough?
It depends on how the Spanish government words the legislation. Technically, if you have a residence permit in any EU country, then you are considered an EU resident. According to the governments press reports, EU residents are exempt from the tax. But there are different types of residency, from short term visas, like the Portuguese D7, permanent residency, and citizenship. At a strictly legal level, "residency" means all three of those. But again, we'll have to see how the Spanish government writes the legislation, and how the EU responds to it if at all.
@francisco7661 As far as I'm aware there is only one benefit of an EU passport over permanent residence status. That is that the passport denotes citizenship and thus allows the passport holder to vote in national elections. Something a permanent resident (yet non-citizen) cannot do.
I can't blame the Spanish government, but what is even more interesting is the fact that the citizens voiced their concerns, and their government reacted in favor of them. Imagine that! Would love to see the USA adapt this, listening to its citizens regarding issues (healthcare, cost of living, gun violence, etc.) As soon as I sell my house, goodbye to "stuff" and the issues plaguing the US and to Spain I return! I hope! Great information shared. Commend Spain for its changes and just makes sense. Studied in Spain and have returned several times. The next trip in a few weeks will be one exploration and commitment to moving there. Enjoyed this video.
None of you are aware that you will leave behind a System that you know to enter another that you do not know at all and that for some reason you believe is a Utopia,
Thank you for the clarification on the issue. I don't blame the Spanish government for trying to reign in excessive housing for short term rentals issue or foreign purchases for those that don't plan on living in country.
I got my passport from the Republic of Ireland from Canada about 7 years and it was quiet easy once I had the paperwork. I did it all online from Canada. Main Documents needed: Official birth record for farther from Ireland. My own birth certificate from Canada. My parents marriage record from Canada. I could have done the same for Germany from my mother but the process is much more difficult via Germany.
Well Spain was on my short list to move to from the US but probably not anymore. Wouldn't want to be anyplace where we would be resented by the locals either.
Don’t worry, the Spanish are absolutely fantastic people. Since my wife and myself have moved here, we have found nothing but friendly people wanting to help you. Don’t listen to political rants, from ill informed people. Yes housing is a problem, but nothing to do with foreigners buying housing. Those houses the Spanish would not want, or could afford. It boils down to, not enough affordable housing being built. This is a problem that can only be solved, at building planning stages. Which again is a Spanish political issue, not forcing through affordable housing first before touristic housing. But there again money talks!
@@PaulKelly-59 Thanks Paul for replying. I was looking to buy something pretty nice in the 150K to 200K range. But I wouldn't be able to afford it if the price doubles for taxes. I know it hasn't been passed yet and I'm still at least two years away from retirement so I'll keep and eye on it. Southern Italy is #1 on my list then Spain. After that Portugal, Greece and Croatia in no particular order.
The Americans will be more welcomed than other foreigners, believe me. Maybe the Spaniards are tired of the Brits buying in Spain, not living there, renting out, and not assimilating, as they should. Many beautiful towns become 😢tourists traps, raising the coast of living and real estate, especially people from the Northern European countries. Americans tend to assimilate better.
It would be also efficient to modify the capital gains tax on sale for everyone. Because too much property is standing vacant. Importantly, affordable housing is written in the Constitution. But making money from property speculation and hoarding have never been written in it. So the solution is to introduce capital gains tax of 80% for properties sold. Earlier investors will be protected, because the tax should be calculated as yearly average from before and after the new tax date. This will discourage buying property for investment. And people will buy property when they actually need it. To stimulate renovation business, lower capital gain tax should be applied for the 1st and 2nd year after a purchase (20% and 40%). Land without property will not have the 2 year tax discount. The tax will: incentivize to sell unused property, not to buy property for now mostly unprofitable investment, generate considerable tax revenue for the state, increase the number of properties for sale, thus lower prices. The tax collected can be used to build social housing. Income tax from long term rentals can be lowered to compensate and stimulate property rentals. So the buy-to-rent profitability will not be affected, but allow more people to rent cheaper. It is time to stop profiteers from unearned income due to infrastructural investments of the state in the cities - as metro station nearby, for example, makes nearby property more expensive. This is the goal of the proposal.
Thats is just dumb... The problem with housing markets, but the prices. Whether resident, citizen or not, if you don't have the money to buy, you simply won't be able to buy. Ok, they apply 100% tax to non EU residents, that will only increase the value of properties and in the other hand it will cheapen the values and a lot of sellers will be automatically on negative equity. Its fine by someone buying it cheap, but that property it will keep devaluing. Just the fact foreigners buy a property in Spain, irs a favour they are doing, cause as far as i know, they don't get this homes free. I wouldn't be bothered buying in another country, because they just want to screw everything, just because people believe that buying a home should be on their terms and the cheap price they want, but this very same people want to sell pricier and make profit.
It only affects non resident non EU citizens. Europeans it does not affect you. Also if you are resident but non EU citizen neither will it affect you.
Just to be clear:- An expat is a person who lives outside their native country, usually for a limited period of time, and may or may not intend to return to their home country. On the other hand, an immigrant is a person who moves to a new country with the intention of settling there permanently. Starting with the definition of an immigrant, we'll learn that it's, "a person who comes to live permanently in a foreign country." There's a key difference between an expat and immigrant and it's right there in the definition. While it was lacking in the definition of an expat. Someone becomes an immigrant when they start the immigration process and aim to stay in a foreign country indefinitely. An immigrant aims to build a new life in a new country and is not planning to pack up their bags for anywhere else. They want a new passport and to make their host country their forever home. Hope this helps, and calms your bitterness down.
@@KimArchibald-d5o that's right. This has nothing to do with citizenship. It's about residency. If you're an EU resident, then you qualify to avoid the tax.
Englands going to do the same to EU people who wish to buy properties in england witch could cost two to three hundred percent on the property price . If your English you will not pay any extra if you are still an English resident . Only those from outside the UK .
@susanaescriba977The weather is gold, like California is for us in the USA. Those people in the northern countries freeze to their bones. That is the real reason, but also Spain happens to be beautiful. The best civilizations were born in the Mediterranean, ha, like it or not.
This will happen and I will tell you why . If they don't take harsh actions and property goes up another 20% next year do the protests get bigger maybe turn to riots strikes?. They still don't do anything and housing goes up another 20 % and then what protests get violent ? I will answer why this is not happening in other countries yet . Protests . If you had a large protest in Hyde Park or in Central Park or near the Eiffel tower the governments would start to take measures . If the protests get ugly then they would have no choice but to act . We are not looking at the catalyst it's the protests . Stop protest or stop tourists ?? Easy answer .
This is not a measure against tourism. It is a measure to discourage foreigners buying property in Spain in order to stabilise the property market for Spanish people.
@@marclajeunesse3890 Agreed, excessive tourism is also a problem in many places. However, this measure is to discourage the purchase of properties by foreigners who intend using them as short-term holiday lets, which push up the cost of normal residential accommodation for locals. Another measure being implemented is the restriction on the issue of tourist licences, and that affects all owners of such properties, including Spanish people.
I'm sure that the Spanish authorities know the implications of what they are doing. It is intended to apply to all foreigners except for citizens of other EU countries because of the common travel, work and living freedoms that exist in the EU.
How can it be racist? And secondly, it is not against any EU laws, as this tax will not apply to EU citizens. It is a measure to disincentive the purchase of properties in Spain by people who are not Spanish or EU citizens.
Kick off 2025 with a chance to win a $2,000 flight voucher to any destination of your choice + free access to our exclusive How to Move Out of the U.S. Seminar! ✈🌎
🏝Don’t miss this opportunity to start your dream adventure abroad. 👉🏻Enter now! intliving.com/winfreeflightsyt 🗺
Great update. It's probably hard to determine the likelihood of the bill actually passing, but just the fact that it is being discussed beings up the risk of being shut out of the housing market.
Spain is not banning foreign buyers. It's banning non-EU+non-residents, which is very different
More than banning, is a higher tax. Not a prohibition.
So much needed talent from outside the EU would never consider taking a job in Spain. A British doctor, for example, would not take a job in Spain if he was being charged double the market price for every property.
@@seansixfiveThe video explained that if you become a legal resident in Spain, this increased tax will not apply.
@@seansixfive this, but almost ANY british doctor DONT want to work in spain because britain has WAY bigger salaries...
What happens is AFTER working as a doctor, the british EX doctor wants to RETIRE in spain (without working)...
This will keep a few away, witch is good for spanish people since they are not COMPETING FOR their HOUSES with rich ritired americans anymore
@@oscarcontreras2898well, 100% tax is virtually the same
Good decision also revoke the airbnb permits .
😂😂😂😂 Another one wanting free house 😂😂😂
Clear and helpful presentation … appreciate this!
When someone comes to USA , he/ she has the right to buy a property anywhere, as long as he/she has the money.
That's free trade.
It applies to all non-EU countries. There is no targetting of any individuals from specific countries. Citizens of EU countries are exempt because of the EU charter that allows free movement of citizens between member states.
That is correct.
It does not come from the free movement of citizens but rather from the fact that EU citizens can not be treated differently from nationals if they have the same status (for instance residency). Spain could very well make a tax for non-residents (EU residents or otherwise).
Your misquoting the official government statement
I wish we would do that in the US.
Exactly
US one of the largest real estate investments you Dont want to lose this and if the plan to create more jobs in US you need more investors you need to make the country more open without discrimination
@@mojames2719 1.8% of the total sales. Won’t miss it.
To what end?
@@JamesGreenier dont worry, with Trump it'll happen
It is necessary to stop the land grab by foreign companies and foreign governments which have set up companies in Spain to buy real estate. These entities are driving up prices and hoarding real estate.
Not sure where your look but there is so many empty properties here in Spain
@ But not in the major cities where most people in Spain live and where the real estate is being bought up. You must be referring to the towns and villages where everyone is leaving to move to the cities.
@@junuc10 yes I am referring to the towns but in general most cities are getting expensive all over the world that's capitalism
@@jordanzeek2829Empty for a REASON. They are owned by the rich people/corporations, many of them FOREIGN, and no middle class or poorer Spaniard can EVER buy them.
Just one query for me you mentioned that digital no man Visa requires the individual to remain in Spain for long period but I think in the case of Spain that’s not true
It's not a 100% tax, it's the removal of the tax breaks. So non-EU non residents will have to pay 100% OF taxes, without the breaks they currently get.
@@rufusreloaded1043
In 2000 the Company I worked for had a contract with the Spanish Navy for equipment for the F100 Frigates. The Spanish Naval Officers suggested I visit Spain. Now the Spanish Citizen are telling Americans NIT to visit. The U.S. Government too could limit residence Visas and impose 100% sales tax (there is already around 8% tax. There is generally no sales tax on real estate in the USA) on real estate transactions by Spaniards and EU Citizens and relocate the U.S. Navy Destroyers out of Spain and drastically reduce NATO spending. Why pay for the defense of Europe when they are effectively economically banning real estate purchases by Americans?
@@Debora-m8r I have no idea why you're replying to me or how your comment is anything to do with what I've said.
The proposed 100% property tax by Spanish Prime Minister Pedro Sánchez is not intended to double the purchase price of a property. Instead the “100% tax” refers to an additional charge on property holding costs.
I don't believe the 100% tax will ever happen. My understanding is that this property tax is not a Spain wide tax. Each of the 17 autonomous communities collect the property tax specifically for that community. I seriously doubt you will ever get that kind of agreement here in Spain. With the amount of misinformation spreading that this tax is definitely going to happen the price of houses is already going up further regardless of the amount of non EU buyers in the market.
Does this apply to commercial properties like hotels or only residential properties?
How about if you buy a mobile home on wheels does that qualify
What do you think will happen to non EU/non resident holiday homes if they donate/gift/transfer these homes to relatives who are non EU/non residents? Will this potential increased taxation (if it gets passed) apply? Or if holiday homes are inherited by non EU/non resident beneficiaries would this tax apply?
Apparently there is 2 proposals been put forward by the Spanish government 1 application is to introduce 💯 % purchase tax on property for use as a holiday home for none EU citezens and number 2 application is to completely ban all none EU citezens from purchasing a property for holiday home use... on a none resident basis.
It already happens to a certain extent. I onow of people who own property on the US but they are restricted to a maximum stay of 180 days per year.
After watching this whole video I am still confused about EU residence and EU citizenship. I am officially a documented tax-paying resident in France. I am considering buying a home in Spain and splitting equally my time between winter in Spain and summer in France. In effect I want to own a home and Spain and be resident in France. So, to avoid the 100% extra duty, do I need an EU passport or will EU residence documentation be enough?
Eu passport
It depends on how the Spanish government words the legislation. Technically, if you have a residence permit in any EU country, then you are considered an EU resident. According to the governments press reports, EU residents are exempt from the tax. But there are different types of residency, from short term visas, like the Portuguese D7, permanent residency, and citizenship. At a strictly legal level, "residency" means all three of those. But again, we'll have to see how the Spanish government writes the legislation, and how the EU responds to it if at all.
@@tedbaumann Thanks for this confirmation that there rests a lot to clarify in this strange headline announcement.
@francisco7661 As far as I'm aware there is only one benefit of an EU passport over permanent residence status. That is that the passport denotes citizenship and thus allows the passport holder to vote in national elections. Something a permanent resident (yet non-citizen) cannot do.
I can't blame the Spanish government, but what is even more interesting is the fact that the citizens voiced their concerns, and their government reacted in favor of them. Imagine that! Would love to see the USA adapt this, listening to its citizens regarding issues (healthcare, cost of living, gun violence, etc.) As soon as I sell my house, goodbye to "stuff" and the issues plaguing the US and to Spain I return! I hope! Great information shared. Commend Spain for its changes and just makes sense. Studied in Spain and have returned several times. The next trip in a few weeks will be one exploration and commitment to moving there. Enjoyed this video.
Will never happen in US. The govt only cares about their corporate donors.
I Live in Spain , the most abandoned properties hold the bank :)
Nearly zero new buildings for normal people ( thanks government socialist rules)
@ same here in capitalist US. The focus of the powerful is to make themselves as rich as possible. No one cares about the average person anymore.
None of you are aware that you will leave behind a System that you know to enter another that you do not know at all and that for some reason you believe is a Utopia,
@@MR-pr8tp The only way that the US government is going to listen is by removing the corrupt politicians that the ignorants keep voting in.
Thank you for the clarification on the issue. I don't blame the Spanish government for trying to reign in excessive housing for short term rentals issue or foreign purchases for those that don't plan on living in country.
Short-term contracts are for specific situations, such as work. Otherwise, they are illegal.
What a bullstory
There is only one party in the country that want a 100% increase (dubble) in property tax, not 100% tax!
I got my passport from the Republic of Ireland from Canada about 7 years and it was quiet easy once I had the paperwork. I did it all online from Canada.
Main Documents needed:
Official birth record for farther from Ireland.
My own birth certificate from Canada.
My parents marriage record from Canada.
I could have done the same for Germany from my mother but the process is much more difficult via Germany.
Not really , I did this straight after Brexit...my mother was German
Well Spain was on my short list to move to from the US but probably not anymore. Wouldn't want to be anyplace where we would be resented by the locals either.
Don’t worry, the Spanish are absolutely fantastic people. Since my wife and myself have moved here, we have found nothing but friendly people wanting to help you. Don’t listen to political rants, from ill informed people. Yes housing is a problem, but nothing to do with foreigners buying housing. Those houses the Spanish would not want, or could afford. It boils down to, not enough affordable housing being built. This is a problem that can only be solved, at building planning stages. Which again is a Spanish political issue, not forcing through affordable housing first before touristic housing. But there again money talks!
@@PaulKelly-59 Thanks Paul for replying. I was looking to buy something pretty nice in the 150K to 200K range. But I wouldn't be able to afford it if the price doubles for taxes.
I know it hasn't been passed yet and I'm still at least two years away from retirement so I'll keep and eye on it. Southern Italy is #1 on my list then Spain. After that Portugal, Greece and Croatia in no particular order.
@@WayneHawk-h2u with housing purchase you need to factor in at least 10% extra, for selling another 10%. Good luck hope all ends well!
The Americans will be more welcomed than other foreigners, believe me. Maybe the Spaniards are tired of the Brits buying in Spain, not living there, renting out, and not assimilating, as they should. Many beautiful towns become 😢tourists traps, raising the coast of living and real estate, especially people from the Northern European countries. Americans tend to assimilate better.
It would be also efficient to modify the capital gains tax on sale for everyone. Because too much property is standing vacant. Importantly, affordable housing is written in the Constitution. But making money from property speculation and hoarding have never been written in it. So the solution is to introduce capital gains tax of 80% for properties sold. Earlier investors will be protected, because the tax should be calculated as yearly average from before and after the new tax date. This will discourage buying property for investment. And people will buy property when they actually need it. To stimulate renovation business, lower capital gain tax should be applied for the 1st and 2nd year after a purchase (20% and 40%). Land without property will not have the 2 year tax discount. The tax will: incentivize to sell unused property, not to buy property for now mostly unprofitable investment, generate considerable tax revenue for the state, increase the number of properties for sale, thus lower prices. The tax collected can be used to build social housing. Income tax from long term rentals can be lowered to compensate and stimulate property rentals. So the buy-to-rent profitability will not be affected, but allow more people to rent cheaper. It is time to stop profiteers from unearned income due to infrastructural investments of the state in the cities - as metro station nearby, for example, makes nearby property more expensive. This is the goal of the proposal.
Thats is just dumb... The problem with housing markets, but the prices. Whether resident, citizen or not, if you don't have the money to buy, you simply won't be able to buy. Ok, they apply 100% tax to non EU residents, that will only increase the value of properties and in the other hand it will cheapen the values and a lot of sellers will be automatically on negative equity. Its fine by someone buying it cheap, but that property it will keep devaluing. Just the fact foreigners buy a property in Spain, irs a favour they are doing, cause as far as i know, they don't get this homes free. I wouldn't be bothered buying in another country, because they just want to screw everything, just because people believe that buying a home should be on their terms and the cheap price they want, but this very same people want to sell pricier and make profit.
It only affects non resident non EU citizens. Europeans it does not affect you. Also if you are resident but non EU citizen neither will it affect you.
Could someone with a Spanish passport, but not a resident in Spain, buy property in Spain?
I meant not a resident of any EU country but say, of the US or Canada
Claro que si
I am of that type
If you hold a Spanish passport, you are a Spanish citizen, so this new tax will not apply to you regardless of where you currently live.
@@The_Red_Squirrel The word "resident" has no meaning for you?
@susanaescriba977 'Resident' means a place where you currently live on a long-term basis. I hope that clarified it for you.
To start with. We do not know expats in the EU. You aer all immigrants. Respect our values!
Just to be clear:- An expat is a person who lives outside their native country, usually for a limited period of time, and may or may not intend to return to their home country. On the other hand, an immigrant is a person who moves to a new country with the intention of settling there permanently.
Starting with the definition of an immigrant, we'll learn that it's, "a person who comes to live permanently in a foreign country." There's a key difference between an expat and immigrant and it's right there in the definition. While it was lacking in the definition of an expat.
Someone becomes an immigrant when they start the immigration process and aim to stay in a foreign country indefinitely. An immigrant aims to build a new life in a new country and is not planning to pack up their bags for anywhere else. They want a new passport and to make their host country their forever home. Hope this helps, and calms your bitterness down.
Just for non-EU citizens.
NO-RESIDENTS
@@KimArchibald-d5o that's right. This has nothing to do with citizenship. It's about residency. If you're an EU resident, then you qualify to avoid the tax.
Englands going to do the same to EU people who wish to buy properties in england witch could cost two to three hundred percent on the property price . If your English you will not pay any extra if you are still an English resident . Only those from outside the UK .
Most foreigners buy in Spain for tourism speculation. Tell me, who goes to the UK for that?
@susanaescriba977The weather is gold, like California is for us in the USA. Those people in the northern countries freeze to their bones. That is the real reason, but also Spain happens to be beautiful. The best civilizations were born in the Mediterranean, ha, like it or not.
Nobody wants to buy in UK, nevertheless with all those immigrants from those “particular” countries who are already in power.
@@angelagonimavalero7700 No has entendido mi pregunta. ¿Quien querría comprar en UK para especular turisticamente?
@@angelagonimavalero7700 Soy española chatina.
Awful. 🤬
This will happen and I will tell you why . If they don't take harsh actions and property goes up another 20% next year do the protests get bigger maybe turn to riots strikes?. They still don't do anything and housing goes up another 20 % and then what protests get violent ? I will answer why this is not happening in other countries yet . Protests . If you had a large protest in Hyde Park or in Central Park or near the Eiffel tower the governments would start to take measures . If the protests get ugly then they would have no choice but to act . We are not looking at the catalyst it's the protests . Stop protest or stop tourists ?? Easy answer .
This is not a measure against tourism. It is a measure to discourage foreigners buying property in Spain in order to stabilise the property market for Spanish people.
@@The_Red_Squirrel Sure , we can candy coat it . However there are a multitude of signs stating go home tourist during the protests .
@@marclajeunesse3890 Agreed, excessive tourism is also a problem in many places. However, this measure is to discourage the purchase of properties by foreigners who intend using them as short-term holiday lets, which push up the cost of normal residential accommodation for locals. Another measure being implemented is the restriction on the issue of tourist licences, and that affects all owners of such properties, including Spanish people.
Every EU country must do it 😉
Portugal should also implement this new property tax.
Would be a shame to stop Portuguese loving non EU families buying ruined shacks in the ghost towns of central Portugal
Too late. Spain became a hell country for locals. I left the country in 2019. Adiós.
My theory is that the “ non EU” citizens that Spain is targeting with the 100% real estate tax is the British.
And?
The UK as a non-EU country is affected the same as any other non-EU country. No country is being singled out.
Russians… foreign real estate companies buying to rent or Airbnb, and so on.
This Tax wont happen !! . 👍🏴🦊
I hope España understands many Americans are choosing to travel elsewhere permanently. The 💯 property tax s/b reciprocal.
I'm sure that the Spanish authorities know the implications of what they are doing. It is intended to apply to all foreigners except for citizens of other EU countries because of the common travel, work and living freedoms that exist in the EU.
Very racist and against Eu discrimination law
Are you british? If so....its not against you
Againt which "race" do you actually mean🤔
@@Jay-cj3br against no race at all.........its just something neccesary
How can it be racist? And secondly, it is not against any EU laws, as this tax will not apply to EU citizens. It is a measure to disincentive the purchase of properties in Spain by people who are not Spanish or EU citizens.
EU is not a race.
Dont buy a house 8n Spain, uncertainty is going to get even worse
Scrary.. buthurt engloid