Spanish PM forced to defend hefty tax increase for non-resident British and U.S. property buyers in Davos
Fears that Spain no longer wants foreign investment
Spanish Prime Minister, Pedro Sanchez, was forced to defend his controversial new property tax on home sales to non-resident/non-European Union buyers at the World Economic Forum in Davos this week. The tax will principally hit British and American property buyers in Spain as they are some of the biggest buyers of Spanish property but obviously from outside the European Union and in some cases non residents in Spain.
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11 comments
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TawnyIn the EU, only Croatia and Poland out performed Spain last year (Malta and Cyprus are small islands so not comparable). As for the UK, you'll have to scroll a long way down to find it. Happy now? https://www.statista.com/statistics/686147/gdp-growth-europe/
Zoltan TeglasWhere do you get your info from about Spain being one of the best performing economies? At best they are ranked No.10!!!
EnzoAbsolute rubbish. The Spanish economy is one of the best performing in Europe and Spain is a modern European country with far better infrastructure than the UK for example - how is that in anyway like Venezuela.
JamesWell that would require him to actually do something to fix the local problem. It’s easier to implement a jizya tax on the foreigner. Just like the emir of old..
He's Building a New Venezuela and he´s got quite a lot of help Spain could turn complete Comi in the blink of an eye all this free free free and many people with no paper work no one know´s how old they are where they come from and what is there name , he´s always wearing the suit´s which reflect his Farmer look and he likes flying to DAVOS for Fondue while the poor Spanish try to keep the light´s on !
David HollandThere's thousands if not millions of half finished homes and derelict properties in Spain. Maybe Sanchez should have started there......
The real problem is that he's only limited it to non resident non EU nationals so it won't solve the housing crisis, it will just mean more French/German owners instead of British or American owners. Just more punishment for Brexit
TCThe amount you mention is actually very nearly15 billion.
As i mentioned in a previous comment, the 10 billion wiped from Catalan National debt could have built 100,000 thousand new social houses with rental incomes contributing to more houses/ Apt being built over future years. No need to upset anyone. As it is he has upset nearly everyone exepct the catalan regional government.
Is he really surprised that this move wouldn’t be seen as anti investment. I have no idea how many house sales occur in Spain each year but 27 k to foreigners doesn’t seem a lot. As for British being the worst hit. Well 100% tax on a Majorca property. Takes you to some very nice places in Europe. Nice , Tuscany, and Portugal, Sardinia,