[News] Spain plans 100% tax on non-EU owned homes

[A mex eyecan]

surely though will have huge effect when people decide they’re too old to go over to their places, or to cash in their investments in Spain. If they are in some conurbation I wouldn’t think it will be locals buying them?

 

[maffew]

Ought to happen here, and some point something more needs to give on peoples 2nd, 3rd 4th, 5th properties here too, irrespective of if they are from overseas or not

 

[wellquickwoody]

Spain plans 100% tax for homes bought by non-EU residents

The measure is meant to help tackle the country's housing crisis, the prime minister said.

www.bbc.co.uk

Good on 'em. If only we'd do the same to the Russians.

As a bonus some of the leathery, Sun reading ex pat bores who voted for Brexit and thought it wouldn't apply to them are going to be mightily pissed off. Again.

Why the need to gloat about others having unexpected enormous bills?

I am totally understanding that Spain has the right to choose to do whatever IT wants with tax rates on this issue, just seems nasty to apply it retrospectively if that is what is being proposed.

You just seem jealous of those who have something nice, like a home in the sun.

 

[Guinness Boy]

You just seem jealous of those who have something nice, like a home in the sun, a collection of sovereign rings and old school tattoos, skin cancer, a Benidorm bus pass and a criminal record the size of Barnsley.

EFA

 

[ROSM]

Says the man who turned a thread about LATIN into an anti-Labour rant.

Don't pick up two tier PoTG on his hypocrisy. You will upset the sensitive flower

 

[nicko31]

If you can afford a gaff abroad then a provision for overseas healthcare should be incorporated into fiscal planning wherever it may be.
The European thingy is pretty basic.

To be able to pay for your own healthcare you need pretty deep pockets. The European thing in Spain WAS NOT basic

 

[Chicken Run]

EFA

Totally agree l, Spain is full of back to fronts, Spanish or otherwise

 

[birthofanorange]

Ok, fair enough chief.

They MIGHT not take too much notice though.

Of course they won't, as they totally ignored all the warnings/alarm bells re: Brexit and simply labelled them as 'Project Fear'.
Dim-witted and we're paying the price for their 'unicorns'.

 

[Weststander]

So is this proposed tax idea on new purchases going forward, and or people who already own down there?

On future purchases.

Expats to be ‘severely impacted’ by Spain’s 100% tax on foreign homes

Spain is proposing to introduce a 100 per cent tax on real estate purchases for non-EU buyers.

www.ftadviser.com

 

[Weststander]

Although the article implies it will only apply to new purchases .... not the ones the "leathery" have already bought. Seems a vague statement so far, with little detail and very unlikely to get passed by the Spanish parliament.

It is on future purchases. The aim is to deter the buying of second homes from now on.

 

[Weststander]

This tax will effect only homes not lived in by the owners. In other words, people who buy to let out on AirBnB.
We've looked at returning to Spain to live but since Brexit it is very hard. They've removed the Golden Ticket that meant someone spending 500,000€ got a free entry.
I've lived in Spain but sold my 3 bedroom apartment that I purchased for 5 million and sold for 8 million*.
I moved all my money back to the UK to purchase my house here but forgot a minor bank account. La Caixa tracked me down and sent me a letter telling me I have this account but it's now been 3 years of trying, including 2 hours in La Caixa Madrid, to unlock the account. Even now it's still locked. Only surprise was its contents, 5400€, nice.




*pesatas. 1000 = £5

The Golden Visa route is being completely scrapped by Spain.

 

[Braggfan]

I think regardless of where you stood/stand on Brexit, i think its good idea from the Spanish. Areas of the UK have toyed with taxes on 2nd homes. I think parts of Wales and Cornwall have been concerned about the lack of housing because of people buying properties to rent out as holiday homes.

I've mentioned before on here, it annoys the s*** out of me that my cousin owns a place in central Brighton that he rents out for airbnb. He's never lived in the City, but makes £40K a year renting it out. At the same time people like myself having lived here all my life, can't afford to buy, and renting is outrageously high. I think any laws that discourage it are good in my opinion.

 

[birthofanorange]

I think regardless of where you stood/stand on Brexit, i think its good idea from the Spanish. Areas of the UK have toyed with taxes on 2nd homes. I think parts of Wales and Cornwall have been concerned about the lack of housing because of people buying properties to rent out as holiday homes.

I've mentioned before on here, it annoys the s*** out of me that my cousin owns a place in central Brighton that he rents out for airbnb. He's never lived in the City, but makes £40K a year renting it out. At the same time people like myself having lived here all my life, can't afford to buy, and renting is outrageously high. I think any laws that discourage it are good in my opinion.

That is a very fair point, although the Spanish originally actively encouraged foreigners to live there for the money it brought in. Never nice to see locals suffer in any way, though, and I think your cousin should gift you his place.
Tell him I said so.

 

[sparkie]

Great idea.

We should do it in the UK.

 

[Simster]

Ok, fair enough chief.

They MIGHT not take too much notice though.

Of course they won't - it's because they're both thick and ignorant.

 

[Chicken Run]

Great idea.

We should do it in the UK.

I agree but is it naive of me to assume more outsiders buy second homes in Spain than the UK, a lot of second homes owned in the UK are surely owned by UK residents?

 

[Boroseagull]

The main aim is stop the purchase of houses to use as AirBBs, a thing that is a real problem here just as it is in many developed countries including the UK. The Russians are now one of the largest purchasers of new houses/apartments in prime positions (wonder how they manage that?).
All us 'leathery old sods' who have been here legally pre BREXIT are protected under The Withdrawal Agreement (not a contraceptive method) and have TIE cards that allow us the same rights as EU citizens. All UK pensioners (including this one) are transferred into the excellent Spanish Health system but have use of EHIC card when travelling in other EU countries.

 

[Chicken Run]

Anyway this thread is completely irrelevant to me and i can see the usual suspects have started the inevitable trolling and nastiness so i’m going to add this thread to the ignore bin

 

[Machiavelli]

I agree but is it naive of me to assume more outsiders buy second homes in Spain than the UK, a lot of second homes owned in the UK are surely owned by UK residents?

Which nationalities do you think owns most of the properties in Mayfair? While the game's great, if we shifted the name to Oligopoly, we'll be getting closer.

 

[GT49er]

I know many folk who own second homes across mainland Europe, all but one was and are Remainers.

Several nsc'ers often post from their places in Spain and are openly Remainers.

Sorry, doesn't fit the narrative for NSC!