Spain, France, Greece... tax on property purchase from non EU citizens

30 replies

ManuelCanova · 15/01/2025 11:53

Apologies if there's already a thread on this. I couldn't see one.
I have no bone in this fight.

As far as I understand the tax would be applied to the new purchase of properties by non EU residents. Anyone from the EU would not be subjected to the tax and can carry on buying properties and renting them via Airbnb, etc. and it'll be even easier for investment groups to keep hoarding property and land as there will be less potential cash buyers.

Best case scenario, maybe 2/3 of prospective buyers from outside the EU won't purchase (that would be roughly 9000 properties in Spain, out of 27000 sold to non EU pp). I fail to see how anything that is being discussed could possibly help any housing problem, what am I missing?

OP posts:

rainingsnoring · 15/01/2025 19:00

GasPanic · 15/01/2025 12:12

Governments are supposed to ensure that people are housed, fed, educated, protected.

If they aren't doing that sort of stuff what is the point of them.

Allowing your housing stock to be sold off to airbnbs or for holiday homes and in the process making housing costs unaffordable for citizens is not housing your citizens.

I think they should hit the existing non eu property holders harder. Property is illiquid and very hard to avoid taxes on. We should do it here too.

I agree, although, of course, they are 40 years too late!

'I think they should hit the existing non eu property holders harder. Property is illiquid and very hard to avoid taxes on. We should do it here too.'

They should do this and also for non residents unless they rent the property out long term.

Holiday homes and investment vehicles for rich people are not more important than housing the population.

PiggyPigalle · 15/01/2025 19:13

Halavonna · 15/01/2025 16:42

Might put a stop to their gallop alright and yes, it will include British buyers. So they will look elsewhere I suppose. There are other EU countries that don't (as yet) have restrictions on non EU property buyers.

Albania is looking hot for a punt right now. It's up and coming and needs outside investment to maximise its potential. Just a guess, I've no inside info!

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Best thing about Albania is that most of their criminals are in our prisons, so it's crime free.
Yes you're paying for them, but look on it as a Holiday Tax.

Halavonna · 15/01/2025 19:19

PiggyPigalle · 15/01/2025 19:13

Best thing about Albania is that most of their criminals are in our prisons, so it's crime free.
Yes you're paying for them, but look on it as a Holiday Tax.

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😂😂😂

ByQuaintAzureWasp · 15/01/2025 21:36

27000 properties were bought in Spain by non-EU residents last year. These were people who paid over the odds, property has gone up massively since the Ukraine/Russia war (we sold at this time and prices have gond up further), and they will go up more now until this becomes law. The problem is that the new tax law will mostly stop these high wealth individuals buying property in the future ... a high percentage of people who spend exorbitant amounts of money in Spain. Those half built villas in the most expensive areas ... builders will go bust, people unemployed ... what's the 'win' for locals? They wont buy properties of massive value or in tourist areas. Nothing as far as I can see.

ByQuaintAzureWasp · 15/01/2025 21:41

ManuelCanova · 15/01/2025 12:02

No it's not a bad idea, it just doesn't seem to be solution to much at all.

If they said minimum price for non-eu buyers (to attract the high wealth people who put lots of money into the economy) ... that makes sense. Those multi-million villas being built ... builders are going to go bankrupt!

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