Spain proposes 100% tax on homes bought by non-EU residents

#1

Post by vinni2 » Mon, Jan 13, 2025, 11:06 PM UTC

Spain proposes 100% tax on homes bought by non-EU residents
theguardian.com

Re: Spain proposes 100% tax on homes bought by non-EU residents

#2

Post by bborud » Mon, Jan 13, 2025, 11:50 PM UTC

Would it work or would it just make things worse?

Re: Spain proposes 100% tax on homes bought by non-EU residents

#3

Post by affinepplan » Mon, Jan 13, 2025, 11:51 PM UTC

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

Re: Spain proposes 100% tax on homes bought by non-EU residents

#4

Post by stavros » Mon, Jan 13, 2025, 11:53 PM UTC

affinepplan wrote: post #3

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

What's causing it in the US?

Re: Spain proposes 100% tax on homes bought by non-EU residents

#5

Post by kjsingh » Mon, Jan 13, 2025, 11:55 PM UTC

what about corporate ownership?

Re: Spain proposes 100% tax on homes bought by non-EU residents

#6

Post by rvnx » Mon, Jan 13, 2025, 11:55 PM UTC

stavros wrote: post #4

affinepplan wrote: post #3

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

What's causing it in the US?

In Canada potentially Chinese immigrants in Vancouver/Toronto, in the US it's an over-generous monetary policy (through low interest rates, especially during COVID)

Re: Spain proposes 100% tax on homes bought by non-EU residents

#7

Post by nozzlegear » Mon, Jan 13, 2025, 11:55 PM UTC

Just tax land value.

Re: Spain proposes 100% tax on homes bought by non-EU residents

#8

Post by bee_rider » Mon, Jan 13, 2025, 11:57 PM UTC

stavros wrote: post #4

affinepplan wrote: post #3

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

What's causing it in the US?

Too much regulation or greedy landlords depending on your political persuasion.

Re: Spain proposes 100% tax on homes bought by non-EU residents

#9

Post by affinepplan » Mon, Jan 13, 2025, 11:57 PM UTC

stavros wrote: post #4

affinepplan wrote: post #3

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

What's causing it in the US?

NIMBYism making it extremely difficult and expensive to build supply as is needed.

in 1946 the US had a population of 141M and built 700k housing units

in 2024 the US had a population of 336M and built 90k housing units

Re: Spain proposes 100% tax on homes bought by non-EU residents

#10

Post by Passport4-Lurk » Mon, Jan 13, 2025, 11:57 PM UTC

stavros wrote: post #4

affinepplan wrote: post #3

so is there any actual evidence that foreign home ownership is causing meaningful housing price inflation in Spain? or is this just uninformed pandering like it is in the US

What's causing it in the US?

It’s always supply. It’s fair to criticize foreign ownership/hedge funds purchasing homes, but the overwhelming reason is that we are not building enough.