Spain is set to introduce a groundbreaking tax on properties bought by non-residents from countries outside the European Union. Prime Minister Pedro Sánchez announced this ambitious measure alongside a series of initiatives aimed at combating the nation’s ongoing housing affordability crisis.

Spain’s prime minister is pushing for far-reaching action to ease the nation’s housing crunch, including a tax of up to 100% on property purchases by non-European Union buyers.

Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

Spain's Prime Minister Pedro Sánchez said too many people were buying Spanish homes as an investment rather than to live in.

Prime Minister Pedro Sanchez is trying to reign in surging prices for real estate in Spain, and British citizens looking to buy beach houses in the country are set to bear the brunt of one of his flagship policies.

To not become a society divided into two classes, the rich landlords and poor tenants,' said Spain's Prime Minister Pedro Sánchez.

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by people who are neither citizens nor residents of the European Union. Spanish Prime Minister Pedro Sánchez announced the plan this week to tackle housing affordability and high rents in the Southern European