US EditionINTERVIEW: 'Spain's 100% Tax on Foreign Buyers Will End up in EU Courts'
- Spain's Socialist-led government proposed a 100 percent tax on property purchases by non-EU, non-resident buyers as of early 2025.
- The tax aims to limit foreign speculation amid Spain's housing crisis, but experts note it may violate EU law and face court challenges.
- Housing shortages, ineffective rent laws, and prioritization of tourist rentals have worsened affordability in Madrid, causing evictions and social unrest.
- An 81-year-old tenant, Marjorie Kanter, faces eviction after over 30 years in Madrid's literary Barrio de las Letras, impacting her health and career.
- The tax's potential confiscatory effect raises concerns about market viability and worsening inequality in Spain's housing situation.
12 Articles
12 Articles
INTERVIEW: 'Spain's 100% tax on foreign buyers will end up in EU courts'
Following the news that Spain's government intends to double the price of properties for non-EU non-resident buyers through a 100 percent tax, The Local spoke to legal and real estate experts about whether the levy makes any sense or is even legal.
Banco De España Detects Signs of Overvaluation in Housing Prices
The Banco de España (BdE) detects imbalances in the price of housing with signs of "moderate" overvaluation. This is one of the main conclusions that emerge from the Spring Financial Stability report prepared by the agency in which they point out that the cost of the real estate is between 1.1% and 8.5% above its equilibrium value, compared to 0.8% and 4.8% six months ago. The agency led by José Luis Escrivá also details that the increase of the…
Housing, the Epicenter of Inequality in Spain: It Has Become a "Black Hole" that Blocks Social Progress, Warns the ESC
In an economic context marked by the recovery of employment and GDP growth, Spain has a structural problem that hinders social welfare: access to housing.This is denounced by the Economic and Social Council (ESC) in its "Memory on the socio-economic and labour situation" of 2024, where it warns that this problem has become a "black hole" that absorbs much of the economic benefits and blocks social progress, especially among the most vulnerable s…
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