Spain's PM Sanchez floats ban on non-EU citizens buying properties

reuters.com

5 points·belter··8 comments

A lot of Spanish property buyers (I'd go so far as to say the majority) are Dutch and German (both in the EU) so I'm not sure who this idea is supposed to be helping?

According to this source, "The British topped the list with 8.4 percent of these transactions, followed by Germans at 7 percent, Moroccans at 6.1 percent, Romanians at 5.3 percent, and the French at 5.2 percent. "

https://sgmlegalspain.com/british-still-the-main-property-bu...

The biggest non-EU property owners in Spain are the Brits.

At least in 2018, Americans (Blackstone) were the largest corporate property owners in Spain.

https://wolfstreet.com/2018/06/14/blackstone-becomes-spains-...?

I like the concept, but I don't think banning individuals will do much. At least in Ireland, it's corporations that invest heavily in build-to-rent properties.

The government should allow sales, but apply a heavy annual tax to the property.

peruserperyear SaaS-model pricing for governments.

Hmm — I wonder which non-EU country relatively on Spain's doorstep could be the issue here?

Care to properly elaborate what you're wondering?

It’s obviously the UK. Lots of UK expats buying and retiring to Spain. At least that’s the story I hear.

The proposed ban applies to non-EU citizens who are not living in Spain. It's aimed at people who buy property to make money rather than to live in.

It won't apply to non-EU citizens who retire to Spain.

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