Spain, because of high foreign demand and very tight local real estate market with extreme prices increase will impose a special tax on the purchase of real estate by non-EU citizens of 100% of the purchase price. This may well cancel demand for Spanish real estate from outside the EU. British citizens are also targeted. Wouldn’t it be better to address directly the real problems of the Spanish real estate market? Such as immigration, planning & building restrictions. Note: in many parts of rural and provincial Spain the market is still socially viable. Of course, as everywhere in the World, city centers and preferred tourist regions are out of reach for many locals. But what else to expect from a socialist government than taxes?
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