Spain’s hard-right social gathering Vox has submitted a proposal in Congress to extend taxes for international property consumers in Spain, with the intention of utilizing the cash to provide tax breaks for Spanish residents and promote the development of subsidised housing.
In response to Spain’s housing disaster, the place many Spaniards do not have entry to reasonably priced housing, far-right Vox need to enhance property taxes for foreigners in an effort to assist locals.
In line with social gathering chief Santiago Abascal, the rise in property purchases by foreigners has made entry to housing tough for younger Spanish folks and households in Spain.
This measure is important to “curb the mass acquisition of housing” by international capital, based on Vox’s assertion.
The social gathering needs the additional taxes from foreigners to imply that Spaniards are exempt from taxes associated to their first dwelling buy. Additionally they suggest the potential for deferring these taxes for as much as 15 years, interest-free, to facilitate entry to homeownership.
In line with Vox, the speed of younger owners has fallen from 56 to 27 %, whereas dwelling purchases by foreigners have risen from 7.6 % in 2007 to 19.3 % in 2025.
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Vox additionally calls for the elimination of the inheritance and present tax at a nationwide stage, significantly in the case of the inheriting or shopping for property, when it’s destined to be a main residence.
There isn’t any point out of whether or not they need this to be relevant to all international consumers or simply non-residents.
READ ALSO: Spain pushes forward with tax that will double property price for foreigners
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Vox’s proposal is in actual fact not to this point off from Prime Minister Pedro Sánchez’s thought, introduced final January, to impose a 100% tax on non-EU non-resident property consumers.
In line with the PSOE’s authorized textual content this tax “can be obtained by making use of a 100% tax fee to the taxable base”, which is the worth of the property in query.
For instance, a 100% tax on a property value €200,000 would imply non-EU non-resident consumers must pay a complete of €400,000, which is double.
Property tax for Spanish residents and EU consumers is round eight % of the worth of the property.
“We will ban non-EU foreigners who do not reside in our nation from speculating with the housing our nation’s households want,” Sánchez had mentioned when he first introduced the concept.
It’s not but clear when or even when it will come into power, nonetheless, as it can nonetheless require parliamentary approval. That is wanting extra possible although, as judging by Vox’s proposal they could be keen to facet with Sánchez for as soon as.
Many consultants and politicians imagine that international consumers and abroad funding corporations are partly accountable for Spain’s housing disaster.
In line with knowledge from Spain’s Normal Council of Notaries, the nationwide common of houses purchased by foreigners in Spain was 11.5 % in 2024. Out of those, nearly all of purchases have been made by non-residents – a complete of 26.9 %.
Within the Balearics, the state of affairs is excessive, the place nearly half of all properties offered final yr have been purchased by foreigners and in Valencia foreigners purchased up 38.9 % of houses.
READ MORE: Foreigners buy 4 in 10 properties in Spain’s Balearic Islands
