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Spain is considering imposing a 100 per cent property tax on buyers from third countries such as the UK, in a bid to improve housing affordability by deterring purchases from abroad.
Prime Minister Pedro Sánchez announced plans for a punitive property tax, which would apply to non-EU citizens who are not residents of the EU, as part of a series of measures aimed at combating a ” serious » housing crisis.
Spain is one of several European countries where public anger is growing over the difficulty of finding affordable housing, as property prices soar and construction lags far behind demand.
“The West faces a decisive challenge: not to become a society divided into two classes, the rich owners and the poor tenants,” Sánchez said, unveiling a series of 12 measures.
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