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Spain plans 100% tax for homes bought by non-EU residents

January 14, 2025
in Business
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Spain plans 100% tax for homes bought by non-EU residents
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Prospective British buyers told BBC News the proposal had made them think again about buying in Spain.

Michele Hayes, from Manchester, who spent the weekend house-hunting south of Alicante, had wanted a property for family to visit and to spend time during her retirement.

“We could look at buying quickly before the tax comes in, but we don’t know what could happen in the future,” she said.

“Selling could be tough if we can no longer sell to non-residents, especially a holiday home property in a touristy area.”

The 59-year-old said she empathised with their housing issue, but said she wanted to add to the local economy and asked: “How many working Spanish people want to live in holiday homes in these tourist areas anyway?”

Martin Craven, from London, said he had been looking to buy in Spain this year.

“I definitely wouldn’t consider trying to get in before this tax, because who knows what else they could do, a retrospective tax or a tax on existing owners,” the 62-year-old said.

“I’ll be looking at Cyprus now instead.”

Julian, 54, from Surrey, said Spain was his first choice to buy a holiday home, but now it “looks more risky” than other countries.

“I would want to be out there four to six months a year, also travelling, spending money, buying food and drink, paying taxes,” the 54-year-old said.

“Here in the UK, we also have problems with landlords buying multiple properties and driving up the rest, but this policy is losing sight of those of us who want to spend money in the country. “

Credit: Source link

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