Spain to Double Property Tax for Foreign Buyers

The Spanish government is proposing a 100% increase in the tax applied to non-EU citizens purchasing property, as part of efforts to address the housing crisis.

The new tax plans were announced earlier this year to tackle growing dissatisfaction over rising property prices and housing shortages, particularly in regions like Madrid and Barcelona.

In 2023, non-EU residents purchased 27,000 properties in Spain.

The British are the top foreign buyers of Spanish property, accounting for 8.2% of purchases by nationality. Germans follow with 6.4%, and the Dutch with 6.1%.

Source: Bloomberght