A government source has revealed that the efforts led by Pedro Sánchez to impose a tax of up to 100% on properties purchased by non-European Union citizens have stalled due to difficulties in securing sufficient political support from minority parties to pass the proposal.
The plan, announced in January 2025, was primarily aimed at reducing competition between high-income foreign investors and local citizens, particularly amid the country’s severe housing crisis. This crisis has led to a 50% decline in rental supply since the beginning of the pandemic, triggering widespread public discontent.
In previous statements, Sánchez indicated that the move to impose effective restrictions on property buyers from outside the European Union is intended to counter “real estate speculation.”
However, these parliamentary plans face significant challenges that hinder their implementation, despite the urgent need to provide affordable housing in a country considered the second most popular tourist destination in the world.
