The proposed 100% tax on non-EU citizens buying properties in Spain has sparked outrage and prompted a re-evaluation of dreams for a second home in the sun.
The Spanish PM Pedro Sánchez is proposing a 100 per cent tax on non-EU citizens buying properties. This news has hit me personally, as my family and I have long dreamed of owning a small holiday home in Spain . We adore the culture, the people, and the lifestyle. We visit annually, and my daughter even speaks some Spanish. We've always envisioned a future where we could retire there, surrounded by sunshine and sea breezes.
We planned to wait until our children were older and established, and then purchase a modest pied-à-terre. We imagined our grandchildren visiting, creating lasting memories and continuing the family tradition. However, Sánchez's proposal has cast a shadow over our aspirations. He argues that the tax hike is necessary to deter non-resident foreign buyers from driving up property prices and exacerbating the housing crisis in Spain. He claims that these purchases are speculative and contribute to social division between wealthy landlords and struggling tenants. While I understand the need to address the housing crisis, I find the blanket 100 per cent tax on non-EU buyers to be excessively harsh and counterproductive. It penalizes families like mine who simply want to enjoy a piece of paradise and contribute to the Spanish economy through tourism and spending. It's not comparable to oligarchs or investment companies buying up entire neighborhoods. Sánchez's proposal essentially creates a two-tier system, where only the wealthy can afford property, excluding ordinary people like myself. This move sends a chilling message to potential expats and could damage Spain's tourism industry in the long run. As a result of this policy, I am forced to reconsider my plans and explore alternative destinations. It's a sad reality that a country so welcoming and beautiful is now seemingly turning its back on families like mine who only want to share in its joys
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