Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by non-European Union residents

Spain wants non-European Union residents to pay as much as 100% tax for home purchases in the country, a move that could affect buyers from the UK and Latin America.

The proposed changes would see non-EU citizens without legal residence in Spain having to cough up taxes worth 100% of the property's value. Official stats reveal that the number of Brits registered as living in Spain jumped from 276,089 in 2017 to 284,037 in 2023.

Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

Much of Europe faces housing shortages, but Spain’s is especially acute. It is not just rents: 75% of Spaniards own property, but for young people the prospect of a first-time buy is receding into middle age.

Spain's prime minister said too many foreigners were buying investment homes. But efforts to discouraging them could hit the economy, experts said.

Spanish Prime Minister Pedro Sánchez announced that non-EU residents could be forced to pay up to 100% tax on the value of their properties.