It's illegal according to European Union law so this is just one more lie by Prime Minister Pedro Sanchez.
https://www.vozpopuli.com/economia/el-castigo-fiscal-a-los-c...
https://www.vozpopuli.com/economia/el-castigo-fiscal-a-los-c...
Is this firmly established or contended?
Article 63 of the Treaty of Lisbon [1] bans "all restrictions on the movement of capital between Member States and between Member States and third countries" [2].
To define "movement of capital," we must look to Annex I to Council Directive 88/361/EEC of 24 June 1988 [3]. It says "purchases of buildings and land and the construction of buildings by private persons for gain or personal use," including explicitly "investments in real estate on national territory by non-residents" counts. Looks clear cut!
That said, there appears to be a long history of challenging what constitutes a "restriction," because EU.
[1] https://en.wikipedia.org/wiki/Treaty_on_the_Functioning_of_t...
[2] https://blogs.kcl.ac.uk/kslreuropeanlawblog/?tag=article-63-...
[3] https://eur-lex.europa.eu/legal-content/EN/TXT/PDF/?uri=CELE...