Spain’s Prime Minister warns Brits of a potential 100% tax on holiday homes to address the housing crisis
Madrid: So, it looks like Brits who own or want to buy holiday homes in Spain might be in for a shock. Prime Minister Pedro Sanchez just announced a potential tax that could go as high as 100%. Ouch!
This tax would mainly hit non-EU buyers, which includes folks from the UK. The idea is to tackle Spain’s housing crisis by stopping foreign buyers from snapping up homes just to make a quick buck.
Sanchez called this move “unprecedented” and said it’s all about making sure homes are for people who actually live in them. He pointed out that in 2023, non-EU buyers grabbed 27,000 properties, mostly for speculation.
Many Brits own places in sunny spots like Majorca, and this could really change the game for them. The Prime Minister mentioned that the tax could be as high as the property’s full value, which is pretty wild.
He also talked about the need to avoid a society where there are just rich landlords and poor tenants. It’s a big issue, and they’re trying to find solutions.
Besides the tax, there are plans for stricter rules on seasonal rentals and some tax breaks for landlords who offer affordable housing. They’re really trying to ease the housing crunch.
As for when this tax will kick in or how it’ll work, we’re still waiting for more details. No timeline has been set for when it’ll go to parliament for a vote.
