Last week Spain’s Socialist Prime Minister Pedro Sanchez announced several measures, including a 100 percent tax on the value of homes bought by foreigners, to tackle the country’s housing crisis.
Sanchez aims to deter non-European Union residents from buying houses in the country. “Spain’s housing should be for Spanish people to live in, as well as for migrants who come here to work and build a life and contribute to the development and prosperity of our country,” Sanchez said, referring to people who use housing as an investment vehicle.
