Prime Minister of Spain, Pedro Sánchez, said that the unprecedented measure was necessary in order to meet the country’s housing emergency.
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00:00Spain is reportedly planning to impose a tax of up to 100% on the value of properties bought
00:07by non-residents from countries outside the EU.
00:10This includes the UK.
00:12Prime Minister of Spain Pedro Sanchez said that the unprecedented measure was necessary
00:17in order to meet the country's housing emergency.
00:19He also said that the move was designed to prioritise available homes for residents.
00:25The Spanish government said the proposal would be finalised after careful study.
00:29Prospective British buyers told BBC News the proposal had made them think again about
00:34buying in Spain.
00:35The office of Pedro Sanchez said the tax burden that they will have to pay in case of purchase
00:41will be increased up to 100% of the value of the property in line with countries such
00:46as Denmark and Canada.