Spain is taking significant steps to address its housing crisis, with Prime Minister Pedro Sánchez unveiling a plan that includes imposing up to a 100% tax on properties purchased by non-European Union residents. The aim of these measures is to combat housing affordability issues and soaring rents in the country, with a focus on enhancing housing availability, implementing better regulations, and providing increased assistance.
Spain, like many other developed nations, is grappling with a housing affordability crisis, particularly in major cities such as Barcelona and Madrid where rents have surged beyond the reach of many, especially the younger population. The escalating housing prices, particularly in urban and coastal areas, have exacerbated the situation.
