- Spanish PM Pedro Sánchez plans to ban non-EU nationals from purchasing homes in Spain.
- The ban targets non-EU citizens who do not reside in Spain to stop speculative property buying.
- Sánchez aims to solve Spain’s housing crisis caused by rising prices and limited availability.
- He proposes a 100% tax on property purchases by non-EU nationals as an alternative.
- Spain recently abolished its Golden Visa Program to curb foreign property investments.
- This move will heavily affect Britons, the top foreign property buyers in Spain.
- The opposition People’s Party calls the proposal “xenophobic” and questions its effectiveness.
- The government examines similar restrictions in Denmark and Canada for inspiration.
- Real estate experts warn this policy could deter investors and harm Spain’s property market.
- Spain faces a housing deficit of 500,000 homes, which makes urgent action necessary.
If approved, this ban will reshape Spain’s housing market and possibly ease affordability for citizens.
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