Spanish Prime Minister Pedro Sanchez has proposed a ban on property purchases by non-EU nationals in Spain as part of efforts to tackle rising housing costs.
Speaking at a rally in Plasencia, western Spain, on Sunday, Sanchez announced, “We will propose banning non-EU foreigners who are not residents, along with their families, from buying property here, as they are doing so to speculate.”
Earlier, on 13 January, Sanchez presented a plan to impose a tax of up to 100% on property purchases by non-EU nationals, such as Nigerians, who do not live in Spain. This is part of broader measures aimed at increasing the housing supply and controlling demand.
A source close to Sanchez clarified that the ban is still under discussion, with the main focus currently on discouraging non-resident purchases through higher taxes.
Spain is grappling with a housing shortage, exacerbated by gentrification and the influx of tourism, with the Central Bank predicting a 500,000-house shortfall this year.
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