Earlier quoted context omitted.
The „owner” is the company.
He's saying the company could rent the building to the owner of the company.
It’s not really clear what they mean.
Spain proposes 100% tax on homes bought by non-EU residents
141–150 of 282 posts
Re: Spain proposes 100% tax on homes bought by non-EU residents
#142Re: Spain proposes 100% tax on homes bought by non-EU residents
#143Blaming foreigners for housing prices is misdirected. The real culprit is slow bureaucracy & zoning laws making it impossibly slow to get a permit to build anything in both Spain and Portugal. Both of these countries for example have so many abandoned houses needing to be renovated, and so many foreigners coming in with money to do it - but they can never do it because you can't get a permit in literally forever... I…
No, that argument assumes you can only blame 1 thing at a time. Even if the bureaucracy is the worst offender, every foreigner buying a house still results in 1 less house for Spaniards. Sure, fix bureaucracy, but don't pretend foreign purchases have zero effect.
So would you say it's fair game to blame "migrants" for crimes? After all, you can't steal something if you're not in a country, so letting someone into a country strictly increases the crime rate. Even if migrants commit crimes at a lower rate than the local population, unless it's exactly zero, it'll still increase the crime rate.
edit: downvoters, I'm not actually endorsing blaming migrants. It's only used as an example.
Re: Spain proposes 100% tax on homes bought by non-EU residents
#144Earlier quoted context omitted.
BC has already implemented actions to limit foreign ownership without them actively living in the residence. Probably more to be done though, but one needs to be careful about unintended consequences.
like house prices falling to affordable levels?
That is the intended and predicted concequence. unintended is things you didn't think of and they can take a long time to appear.
Re: Spain proposes 100% tax on homes bought by non-EU residents
#145Earlier quoted context omitted.
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)
they've slashed immigration, so I guess we'll find out. BC is also going to tax any sales after less than 2 years of ownership; I'm doubtful this will increase affordability or supply, but it will essentially kill the economic model of renovation & flipping.
I don't think it will kill "reno and flip" market. It will become "reno and rent-to-buy later", or "reno, hold and sell".
Re: Spain proposes 100% tax on homes bought by non-EU residents
#146This will undoubtedly make some brexiteers very unhappy.
Is that because: A.) There is significant overlap between Brexiteers and those with enough extra wealth to afford vacation / second homes in Spain. Is there any way to quantify this? I would have thought that those with a nationalistic bent wouldn't be keen to own homes in foreign lands. Plus I had the impression that the Remainers were more towards the urban, wealthy, citizen-of-the-world types who would at first bl…
There is a notable amount of "expats" who permanently moved to Spain under freedom of movement, then voted for Brexit and then were angry that Spain/EU started to treat them as foreigners.
How many hundred that are I don't know, but they made "fun" news stories during those times.
Re: Spain proposes 100% tax on homes bought by non-EU residents
#147Earlier quoted context omitted.
No, that argument assumes you can only blame 1 thing at a time. Even if the bureaucracy is the worst offender, every foreigner buying a house still results in 1 less house for Spaniards. Sure, fix bureaucracy, but don't pretend foreign purchases have zero effect.
I'm not saying it has zero effect. I'm saying it's a misdirected effort that would cause them more harm than good. Spain isn't exactly in the fittest economic position. It needs to attract foreigners to cultivate its growth - hence their Beckham law and other benefits for foreigners. You can deter people from coming and see the country stagnate/go down, or you can actually match the demand and foreign dynamism, and u…
How does allowing *non-residents* to buy real estate help in attracting foreigners and cultivate growth?
Re: Spain proposes 100% tax on homes bought by non-EU residents
#148Canada should follow suit
BC has already implemented actions to limit foreign ownership without them actively living in the residence. Probably more to be done though, but one needs to be careful about unintended consequences.
>without them actively living in the residence
This seems like it would be a bit of a difficult thing to police as far as foreigners goes.
Re: Spain proposes 100% tax on homes bought by non-EU residents
#149Earlier quoted context omitted.
No, that argument assumes you can only blame 1 thing at a time. Even if the bureaucracy is the worst offender, every foreigner buying a house still results in 1 less house for Spaniards. Sure, fix bureaucracy, but don't pretend foreign purchases have zero effect.
So would you say it's fair game to blame "migrants" for crimes? After all, you can't steal something if you're not in a country, so letting someone into a country strictly increases the crime rate. Even if migrants commit crimes at a lower rate than the local population, unless it's exactly zero, it'll still increase the crime rate. edit: downvoters, I'm not actually endorsing blaming migrants. It's only used as an e…
Do crimes have a liquid market with supply and demand mechanics?
If so, then sure, you can blame every criminal for x% of every crime, I guess.
Re: Spain proposes 100% tax on homes bought by non-EU residents
#150Earlier quoted context omitted.
Is that because: A.) There is significant overlap between Brexiteers and those with enough extra wealth to afford vacation / second homes in Spain. Is there any way to quantify this? I would have thought that those with a nationalistic bent wouldn't be keen to own homes in foreign lands. Plus I had the impression that the Remainers were more towards the urban, wealthy, citizen-of-the-world types who would at first bl…
There is a notable amount of "expats" who permanently moved to Spain under freedom of movement, then voted for Brexit and then were angry that Spain/EU started to treat them as foreigners. How many hundred that are I don't know, but they made "fun" news stories during those times.
Those expats are residents though, and thus wouldn't be impacted by the proposal being discussed in the linked article.