SPAIN NON-EU PROPERTY TAX

Spain is planning to impose a 100% tax on real estate bought by non-residents from countries outside the EU, such as the UK. The tax is expected to come into effect in 2024 and will apply to all purchases of property by non-EU residents, regardless of whether they are individuals or companies.
The move has been met with anger from some quarters, who argue that it will deter foreign investment in Spain and damage the country's economy. However, the Spanish government has said that the tax is necessary to protect the country's housing market.
The tax is part of a wider crackdown on foreign ownership of property in Spain. In recent years, there has been a surge in the number of foreign buyers purchasing property in Spain, particularly in popular tourist destinations such as the Costa del Sol and the Balearic Islands. This has led to concerns that foreign buyers are pricing local people out of the market.
The Spanish government has already taken steps to make it more difficult for foreigners to buy property in Spain. In 2015, it introduced a new law that requires all foreign buyers to obtain a special permit before they can purchase property. The permit is only granted to those who can prove that they have a genuine need to live in Spain.
The 100% tax on real estate bought by non-EU residents is the latest in a series of measures designed to deter foreign investment in Spain's housing market. It is unclear whether the tax will have the desired effect, but it is likely to make it more expensive for foreigners to buy property in Spain.
The tax is a controversial move, and it is likely to have a significant impact on the Spanish property market. It is important to be aware of the tax if you are considering buying property in Spain.