Following Spain’s move to impose hefty taxes on non-EU property buyers, France and Portugal are preparing to implement stricter rules on holiday home ownership by Britons.
France and Portugal are preparing to follow Spain's lead in implementing stricter regulations on British holiday home ownership. This news follows Prime Minister Sánchez's announcement in Spain that non-resident citizens from countries outside the European Union, including the UK, will face significant tax burdens if they wish to purchase property in Spain. This has sparked anxiety among Britons currently seeking retirement in Spain's sunny coastal regions. The trend extends beyond Spain.
Individuals planning to reside in Portugal, France, or even Greece may encounter greater obstacles in the future, according to reports from the Mirror. Portugal, grappling with a shortage of affordable housing, has witnessed widespread protests with banners displaying messages such as, 'I have to choose between paying for a house or eating.' France took decisive action late last year to address the growing public dissatisfaction regarding housing availability. The country passed a long-awaited bill to tighten regulations on the short-term tourist rental market. Between 2016 and 2024, the number of such rentals surged from 300,000 to 1.2 million. The Greek government faced increasing pressure last year, ultimately announcing a comprehensive ban on short-term rental licenses in three central districts of Athens due to 'significant societal strain.'Spain cites the urgent need for affordable housing as the primary justification for its crackdown on second-home ownership. The government has outlined an ambitious policy agenda focused on reforming the construction industry, ensuring the availability of affordable rentals, and offering incentives to those adhering to rental guidelines. This includes the potential imposition of a tax of up to 100% on properties purchased by non-European Union residents, encompassing Britons, as reported by Mail Online. However, British buyers have long been attracted to Spain's proposition of luxurious villas bathed in sunshine at a fraction of the cost they might encounter in the UK. While these properties may not necessarily cater to the 'affordable' housing needs of ordinary working Spaniards, the influx of foreign buyers engaged in property speculation has fueled the perception that residents are being disadvantaged to accommodate overseas investors. Prime Minister Sánchez emphasized that non-residents from outside the EU acquired 27,000 houses and apartments in Spain during 2023 alone, 'not to live in them, but primarily to speculate.'Despite Greece's popularity as a destination for British tourists, residents of Athens have expressed their anger at the prevalence of short-term rentals. Last summer, residents scrawled messages on buildings, venting their frustration. One blunt message read: 'Tourists Go Home! Greek State Kills.' Another depicted a large building with two 'Airbnb' towers engulfed in flames, accompanied by the caption: 'Tourists Enjoy Your Stay In The Cemetery Of Europe.' Furious protesters also took to the streets of the Greek capital, voicing their outrage at the increasing influx of tourists. Demonstrators chanted: 'They are taking our houses while they live in the Maldives' - a reference to wealthier homeowners who advertise their properties on Airbnb. Anna Theodorakis, a resident who was forced out of her home in Metaxourgio, Athens, told France24 at the time that the situation in the bustling city was becoming 'very depressing.' 'I think the answer is to go in the streets and block everything and just not do something because people are losing their homes,' she said. Greece, welcoming 32 million visitors in 2023, has been reluctant to implement official messages discouraging foreign tourists
BRITISH HOLIDAY HOMES SPAIN FRANCE PORTUGAL GREECE PROPERTY TAX AFFORDABLE HOUSING TOURISM
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