Spain’s Plan to Tax Foreigners’ Home Purchases Will Likely Struggle to Pass in Parliament
- Premier Sanchez must find backing in a fragmented parliament
- Government is proposing tax on non-EU citizens’ home purchases
Residential and commercial buildings in Cartagena, Spain.
Photographer: Angel Garcia/BloombergThis article is for subscribers only.
Spanish Prime Minister Pedro Sanchez’s proposal to slap a 100% tax on some foreigners’ house purchases is far from certain to take effect given the divisiveness of the country’s parliament.
The Socialist premier’s minority coalition government is yet to send to Parliament the official proposal to increase tax on property purchases by non-European Union citizens who don’t hold EU residency. It’s part of a broader housing package and no timing has been announced yet.