Government announce double tax on all foreigners buying property and selling property in Spain. Just saw the press announcement. Now this is going to really to make Spain expensive for people moving !!
https://www.20minutos.es/noticia/5671899/0/sanchez-plantea-eliminar-irpf-quien-alquile-con-indice-referencia-doblar-impuestos-extranjeros-que-compren-casas/

From what they are saying and according to the press announcement there are 12 new rules. This is in response to growing anger in Spain over the availablity of property for locals. There will be changes to various laws etc but foreigners who are non residents will pay double taxes on purchases and selling. There are no specific details at the moment but it could be a huge change

1. limitará la compra de vivienda por parte de extranjeros extracomunitarios no residentes: el gravamen fiscal se incrementará al 100% para estos compradores, priorizando que las viviendas disponibles sean para los residentes

Have any landlords of long term residential rents read this yet - looks like we might benefit?

Yes. It looks as if landlords who offer long term rentals with approved rents will get really good tax credits on their rentals. In other words your income tax bills will be reduced by quite a large amount. It is quite an announcement and really pulled the rug from PP who were getting all the attention this morning with their demands. But iteams any Brit buying a property before they are residents are going to be paying huge taxes!!!!

Will this apply to non-resident EU members as well?

From what I'm reading in the Spanish press (and indeed in the article you mentioned) the proposal is to tax non resident foreigners an amount equal to the value of the property, not just double the taxes.

"En cuanto al mercado de compraventa, el Gobierno pretende limitar las adquisiciones por parte de extranjeros de fuera de la UE que no sean residentes en España incrementando la carga fiscal hasta el 100% del valor del inmueble."

I'm liking what I've seen of the proposal so far, especially things like ensuring that any property built with public funds stays in public ownership in perpetuity, and the measures proposed to make long term renting more attractive to landlords.

No, only to those from non EU countries - see the quote I included in my post above.

That's a relief, thank you

Bildu ( one of the parties that supports the government) are saying it needs to be changed to- only foreign residents who have property as principal home should be allowed to buy and sell as they claim this would place lots of properties into the market and bring prices in line with local salaries quickly. Either way the government is clear going to try and affect the market by hitting non resident purchases, speculators and short term investors looking for tourist rentals. Given that all parties agree that something radical needs to be done it is clear that those people who don't live in Spain but want to buy and sell property are going to be paying a lot more in the near future.

Just watching La Hora and it is getting quite technical. They appear to suggest that only 5 of the measures need to go to Congress, the rest can be made without a vote. Anyone understand this?

Hi esteemed members,
I am a U.K. based non resident who uses my apartment for holidays only, I don’t rent it out either! I have owned the property for 21 years. I read this article this morning. I can say I was horrified.

i suspect I would fall into the selling category, ie if I sold I would be penalised by higher taxes.

I have tried to understand the full implications by reading all the articles, but I cannot fully get a handle on it.

Does anyone know the full implications of this? Should I be thinking of selling up prior to the legislation being passed, or is it rhetoric meant to play to the crowd?

any opinions would be appreciated

best regards
Al

At this stage it is only proposals so it would need to be passed in a vote before it became law. No one know exactly the details, especially when it comes to the taxes. It certainly looks like it would apply to anyone buying but no one knows if it will apply to selling. Also we don't know if there might be period of grace etc. You just have to wait and see. These things usually get modified in order to get votes so it is not a done deal yet.
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Simple, don't sell it to a non-resident Brit or American! There would likely be no change in the selling costs. The sales of holiday homes to Brits has crashed since the 90/180 day rule kicked in.

None of the Spanish reports refer to any change to tax applied to property sales, only purchases.

As holiday home owners since 2006 we are planning to sell our 3 bedroom house and downsize to a smaller apartment. Seems we had better get on with it!

I hope you are correct on the sales costs. To be quite honest, I would not buy a place out here now with 90/180 day rule. I’m often asked in the U.K. if it’s still feasible, and I reply no. I’m a bit of a throwback and I love living in both places, so I would like to keep it for as long as possible.

I suspect any purchaser in my area would be Finnish. When I sold my villa in 2019 I was surprised a Brit bought it, to tie up to 500,000 euros when you can only stay six months seems too much to me.


regards
Al