spanish Far-Right Party Proposes Tax Regime to Curb Foreign Homeownership
Madrid, Spain – Vox, Spain’s far-right political party, has presented a bill to the Spanish Congress aimed at discouraging foreign buyers from purchasing property in the country, escalating the debate surrounding Spain’s increasingly acute housing crisis. The proposal seeks to implement a new tax regime specifically targeting non-residents, a move Vox argues will prioritize housing affordability for Spanish citizens.
According to figures cited by Vox, Spain faces a housing deficit exceeding 600,000 units.Simultaneously, property prices have steadily risen for a decade, with a surge of over 10% recorded in the last three quarters – the largest increase in nearly twenty years. The party highlights the disproportionate impact on young people, with only 32% of Spaniards under 35 owning their homes, a notable drop from the 55% recorded two decades ago. Families with average incomes are also increasingly priced out of the market.
Vox believes increased taxation or other fiscal restrictions on foreign buyers will reduce external demand and stabilize prices for Spanish residents.
However, the proposal faces immediate scrutiny. Critics warn that such measures could violate European Union regulations guaranteeing free movement and equal treatment of citizens within member states, possibly leading to legal challenges. Discriminating against buyers based on nationality could be deemed a breach of EU law.
Beyond the proposed tax regime, Vox’s plan also calls for accelerating new housing construction and offering tax incentives to Spanish developers focused on affordable housing projects. The party asserts that government intervention is necessary to address a market failure.
The proposal, initially reported by Europapress, arrives amid intensifying political discussion regarding Spain’s housing affordability. Its success hinges on securing support from other parties, but initial reactions suggest significant opposition due to potential EU legal complications.
