Spain's new property tax on foreign buyers has sparked debate about whether other Mediterranean countries, like Greece, should follow suit. Travel experts caution Greece against such a move, warning of potential economic instability and reduced competitiveness. They point to the significant revenue Greece generates from tourism and the potential impact on both the real estate market and the local economy.
Spain announced a property tax on foreign buyers this week amid efforts to curb overtourism in the country. And there was speculation other Mediterranean countries could follow suit.
Now Mike Harvey, managing director at 1st Move International, has issued a warning to Greece, reports the Express. “For those who already own holiday homes, these changes could complicate the process of selling or finding buyers, potentially reducing their return on investment.” It was revealed earlier this month that the number of Greek holiday homes now exceeds that of hotel beds, sparking concern among locals about difficulties in accessing local housing and rising prices.
Property Tax Foreign Buyers Greece Spain Overtourism
United Kingdom Latest News, United Kingdom Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Queen Letizia dazzles in red at Princess Girona Foundation meetingQueen Letizia of Spain attended a board meeting of the Princess Girona Foundation in Madrid, Spain.
Read more »
Asylum ruling against Greece exposes Europe’s migrants dilemmaCurbing irregular arrivals is a political priority but legal and humanitarian questions cannot be brushed aside
Read more »
Leeds United Warned Against Underestimating Derby County Despite Championship LeadLeeds United are in a commanding position at the top of the Championship but manager Daniel Farke warns against complacency ahead of their match against Derby County.
Read more »
Britons Warned Against 'Dodgy' Fire TV Sticks in Crackdown on Illegal StreamingAuthorities in the UK are cracking down on illegal streaming operations, warning citizens against using modified Fire TV sticks that provide unauthorized access to paid streaming content. The Federation Against Copyright Theft (FACT) and police have issued cease-and-desist orders to 30 suppliers, threatening prosecution. FACT warns that users of these devices risk malware, scams, and data theft, urging them to stick to legitimate streaming providers.
Read more »
Brits Warned Against 'Dodgy' Fire TV Sticks in Anti-Piracy CrackdownAuthorities in the UK are cracking down on illegal streaming, targeting suppliers of modified Fire TV sticks that offer free access to premium content. FACT (Federation Against Copyright Theft) and police have issued cease-and-desist orders to 30 suppliers, threatening prosecution. FACT CEO Kieron Sharp warns users and suppliers that engaging in these activities is illegal and risks serious consequences, including arrest. He also highlights the dangers of using illicit streaming devices, which can expose users to malware, scams, and data theft.
Read more »
Manchester United Fans Warned Against Traveling to Anfield Due to Heavy SnowThe highly anticipated Liverpool vs. Manchester United match at Anfield on Sunday is facing potential disruption due to severe snowfall in the northwest of England. Fans have been advised to only travel if absolutely necessary with the city council and transport authorities issuing warnings about travel disruptions and hazardous conditions.
Read more »