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Agencies
Spanish Prime Minister Pedro Sanchez proposed on Monday a series of measures to tackle a housing crisis in the country, including a 100% tax on the purchase of homes by non-resident non-EU foreigners.
Sanchez said the measure would impose a 100% tax rate on the value of the property for non-EU citizens who do not reside in Spain when they buy a house in Spain to “prioritize” housing for residents and fight the “speculative touristic use of properties.” He told an economic forum that the “unprecedented” measure for Spain, but already in place in countries such as Canada and Denmark, was “appropriate and very necessary” when considering the current housing crisis.