Spain taxes tourism to save housing
- Spain's Prime Minister Pedro Sánchez announced a tax crackdown on foreigners buying second homes and owners renting to tourists to address affordable housing concerns.
- Thirty-Five percent of Spaniards struggle to access affordable housing, with prices per square metre in large cities exceeding €7,000, almost three times the EU average.
- The new tax plan includes a 100% tax on non-resident foreign property purchases and taxes on tourist apartments as businesses, while offering tax exemptions for owners renting out empty homes.
- Opposition parties, including Partido Popular and Vox, criticized the government's proposals as interventionist and unrealistic, claiming they would lead to higher prices and reduced supply.
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