Spanish Reforms to Impose 100% Tax on Homes Bought by Non-EU Residents

Spain's government, led by Prime Minister Pedro Sánchez, is proposing a tax policy requiring non-EU foreign buyers to pay 100% of a property's value in taxes, aiming to address the country's housing crisis. In 2023, non-EU residents bought about 27,000 Spanish properties, a significant share of the market. British buyers, affected by Brexit, accounted for 16.5% fewer purchases compared to 2022. The measure seeks to curb foreign property sales and improve housing affordability for Spanish citizens, though its impact on the real estate market remains uncertain.