The measure is meant to help tackle the country's housing crisis, the prime minister said.

Summary

Spain plans to introduce a tax of up to 100% on properties purchased by non-EU residents, aiming to address a housing crisis.

The measure would limit property purchases for investment purposes by foreigners, prioritizing homes for residents.

The proposal, inspired by similar policies in Canada and Denmark, is part of broader efforts to improve housing affordability.

Other measures include tax exemptions for affordable housing landlords, tighter tourist rental regulations, and transferring thousands of homes to public housing programs.

Details and a parliamentary timeline are pending.

  • wildbus8979
    13·
    22 hours ago

    Stop spreading lies and xenophobia. The measure is temporary and expires in 2026 but non citizens or permanent residents currently cannot purchase residential property in Canada.

    https://laws-lois.justice.gc.ca/eng/acts/P-25.2/page-1.html

    The real issue is investment properties and the call is coming from inside the house. Whether they be small individual investors or large corporations.