Spain's 100% Tax Shock: Will Brits Be Forced to Pay Double for Homes?

Spain's housing crisis has prompted the Socialist Party to propose a controversial new bill that would impose a 100% tax on property purchases by non-EU citizens. This measure aims to increase the availability of rental homes and combat the shortage, but it could have significant consequences for foreign buyers, particularly British citizens who own significant numbers of properties in Spain. The video includes footage of the Spanish parliament and protests highlighting the housing crisis. While the proposal is intended to address social issues, critics argue it could deter foreign investment and harm the Spanish economy. "This is a draconian measure that will only serve to punish those who are already struggling to find affordable housing," said one critic. The potential impact on British buyers is significant, with a £500,000 property potentially costing £1 million with the new tax. The long-term effects of this bill remain to be seen, but it is clear that it will have a significant impact on the Spanish property market.