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Spain proposes 100% tax on homes bought by non-EU residents (www.theguardian.com)

submitted 1 year ago by slartibartfast@lemm.ee to c/world@quokk.au

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Spain has announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK, in an aim to tackle the country’s housing crisis.

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[–] jagged_circle@feddit.nl 7 points 1 year ago (1 children)

So much for my US escape plan

[–] NotMyOldRedditName@lemmy.world 2 points 1 year ago* (last edited 1 year ago) (2 children)

If you happen to have 500k EUR you can buy your citizenship there and avoid it.

There are cheaper options out there though.

[–] jagged_circle@feddit.nl 1 points 1 year ago (1 children)

Can I buy a house with that? Or is that literally just the cost of the citizenship

[–] NotMyOldRedditName@lemmy.world 2 points 1 year ago

I'm not sure, but someone else said the program is being scrapped in April.