Summary
Spain plans to introduce a tax of up to 100% on properties purchased by non-EU residents, aiming to address a housing crisis.
The measure would limit property purchases for investment purposes by foreigners, prioritizing homes for residents.
The proposal, inspired by similar policies in Canada and Denmark, is part of broader efforts to improve housing affordability.
Other measures include tax exemptions for affordable housing landlords, tighter tourist rental regulations, and transferring thousands of homes to public housing programs.
Details and a parliamentary timeline are pending.
This article is about Spain, not Canada. Your personal opinion on your country’s laws isn’t part of this discussion.
The article doesn’t talk about Canada, but OP brought up Canada so it is now part of the discussion.
Oh, Canada!