I had the same thought my block has no lift and my knees are a bit worse for wear, a move would be better long term, but it would probably be cheaper paying private and getting new knees!

good luck if you go that way!

regards
Al

We're looking to buy in Spain next year. Luckily, my wife is a Spanish national so, I'll probably avoid this tax lunacy.

This will really hurt Spain in my opinion, how can they possibly expect people to pay 100% tax on buying and selling, it's never going to help their problem and it's basically telling the rest of the world that Spain is closed for investment.

Pedro Sanchez has turned Spain into a laughing stock.

It's not the kind of investment Spain needs. There's a serious housing problem going on.

It puts the breaks on tourists buying houses, and incentivizes owners to sell or rent to residents.

The one investment Spain doesn't need right now is foreigners buying up residential property. In fact many countries could do with such a change.

The idea is exactly that: to dissuade non-residents from buying up property. That means that Spain is still open to ALL forms of investment, but only those that benefit the country instead of hurting it.

The UK should do the same in the form of a substantial tax on non-resident ownership of UK properties, coupled with a similar tax on multiple property ownership.

If you lived in buildings where Spanish families of 4 people make do with 2 bedroom in 50 square metres and the neighbours are 40 year old Swedish retired property buyers you would understand the issues and the resentment. In the last year my building has had 4 flats sold to young Scandanvians - after months of banging, water leaks and broken lifts ( due to constant over use of heavy materials) the flats have suddenly become occupied by different Scandanvians who are clearly just here on holidays. It might be good for tourism but it causes anger amongst the Spanish who feel that they are basically servants and second rate persons for rich foreigners. Not all the laws are directed at money - partly it is to show Spanis people that the government want let that their country, culture and way of life be for sale.

Exactly. We have a Spanish friend who has 14 family members living in his 3 bedroom house - the floors are just covered in mattresses. His daughters and their husbands have jobs but low paid ones and there are just no affordable properties for them to rent.

It's disappointing that the other proposals announced by Sanchez are being completely overlooked by existing or prospective second or more home buyers from overseas - such as transferring land and Sareb properties to a new public housing body to allow more social housing at affordable rents to be built, ensuring that properties built using public funds stay in public ownership, giving income tax exemptions to private landlords who agree to rent properties long term and only raise rents in line with the official price index, and increase taxes on private landlords renting out holiday properties. None of us can say whether these policies, even if they all end up being implemented, will solve the housing crisis or not, but at least it shows that Sánchez and his Government are listening to the people who are suffering and willing to try to do something about it.

It's all getting a bit silly isn't it? The Netherlands has also announced an "Exit Tax" if you want to leave NL to live elsewhere...then you have all these places wanting to kick out the tourists as well..what next??

Yes. People outside Spain are saying that making non residents pay more taxes to purchase properties won't do anything substantial enough to solve the problem but the problem is not solely material , It is also psychological. It must be awful to have lived all your life in one place and worked hard , have a family and suddenly find that rich foreigners with easy lives buy up the local properties, rent them out short term,,- and basically have everything you dream off. Sure it might be the free market etc but at the end of the day Spain is probably more willing to live with less if it means they have important things like home and country and culture that is accessible to them , than work as waiters for tourists. Who wouldn't?

I can see how it annoys local people in Spain. The little village we live in over the past few years has had a number of properties bought up which are now AB&B. It does change the character of the place particularly in summer when all the tourists visit. That said many of the properties bought up for AB&B had been for sale for years as local people didnt want them. Also this is no different to the UK if one originates from a nice rural or coastal areas its now become very expensive to get a foot on the housing ladder due to costs of property inflated by holiday home owners or AB&B . I can understand why the Spanish government have decided to try and do something. Of course reading British press its just the spanish / EU trying to get back at the UK for brexit which is rubbish because its its all non eu non residents that will be affected . I suppose we have to wait and see what the outcome and effect this has for better or worse. Also many holiday home owners/AB&B landlords are in fact EU citizens , Spanish , German , Netherlands etc so how effective will it be ?

Usual smoke & mirrors from politicians. New rules wont even scratch surface of problem.
Simpler solution would be rent control and heavy taxes on short term let (difficult to implement without hitting hotel chains).
Locals should be angry at politicians, not at foreigners.

Having worked and saved for years to retire on the continent, I hope any new law won’t apply to those planning to permanently settle in Spain.

I understand the reasoning behind restricting property purchases by non-residents who only use them as holiday homes or rent them out to tourists. While tourism still benefits Spain, income from such properties often leaves the country.

However, at a time when many nations aim to attract foreign investment, it would seem more reasonable and logcal to allow people who have the means to buy property, can support themselves financially or have other contributions to make which qualify them for residency through a visa, to settle in Spain and pay their taxes there.

Would they really impose a 100% tax on homes bought by much-needed workers as medical professionals moving to Spain to live and work indefinitely?

All the reports refer only to property being bought by non residents, there has been no suggestion that such a tax would be levied on people intending to settle in the country.

I agree with you to a certain extent. People buying properties for Airbnbs I believe has to stop. This is killing city life all over Europe. I think the bigger issue is rising populations from uncontrolled immigration thats a bigger issue, not for Spain but all over Europe, hence housing shortages. While there is no easy solutions, taxing property owners 100% to buy and sell will not resolve anything. You're going to end up with properties empty and then "Ocupados".

I read (Express, I think) that France, Italy, and Greece will follow suit if it is successful in improving the property situation.

It is obviously going to cause a lot of comment and discussion among those interested in property acquisition but there is a problem and solutions need to be explored and implemented.

Anybody selling a property should be encouraged (and will not be penalised as an earlier poster mentioned) as they are putting one more back onto the available list.

They have huge unemployment amongst graduates foreign professionals is not something they need. Beside any such person would rent intially not buy until the residency was confirmed.