Spain to impose 100% tax on non-EU house buyers

Prime Minister of Spain, Pedro Sánchez, said that the unprecedented measure was necessary in order to meet the country’s housing emergency.

Transcript

00:00Spain is reportedly planning to impose a tax of up to 100% on the value of properties bought

00:07by non-residents from countries outside the EU.

00:10This includes the UK.

00:12Prime Minister of Spain Pedro Sanchez said that the unprecedented measure was necessary

00:17in order to meet the country's housing emergency.

00:19He also said that the move was designed to prioritise available homes for residents.

00:25The Spanish government said the proposal would be finalised after careful study.

00:29Prospective British buyers told BBC News the proposal had made them think again about

00:34buying in Spain.

00:35The office of Pedro Sanchez said the tax burden that they will have to pay in case of purchase

00:41will be increased up to 100% of the value of the property in line with countries such

00:46as Denmark and Canada.