That could be disastrous if copied elsewhere, still not sure where we will eventually settle. But the gift that just keeps goving is a PIA,
Only for new purchasers though, those who are residents already and legal have no problems. Its to stop people buying to let like airbnb etc when the locals have nothing to buy or rent themselves. Someone mentioned that the PM is trying to make himself popular by announcing this measure after a disastrous time with the flooding etc and angry locals against tourists.
Yes and I kind of agree with the idea, as the article said how it will actually apply we have to wait and see.
Well, yes.
Again, yes - and given that is part of the perceived problem, it is quite possible the measures could wind up including an element of tax on rentals as well.
I think this is already happening.
The right to a Golden Visa by investing âŹ500,000 in a property in Spain stops in April 2025. That will affect quite a few peopleâs plans as well. I think those who have applications pending are OK.
Maybe, looking at the size of Spain they could build some more properties? They were bloody quick at putting up hotels a while back, just another case of raising revenue whilst doing bugger all else to help the situation?
I can (sort of) see the point of doing this - after all look at Cornwall where second home ownership has priced the locals out of the market.
Hopefully France wonât follow suit or I will be bu%%ered - though presumably if you are becoming a permanent resident and not just buying to let or as a second home it wouldnât apply even in Spain?
It doesnât seem to say anything about that though.
So A Place in the Sun for spanish properties wonât be made anymore if this happens. Canât say I will be sorry to see it off the TV channels.
At the very least there will be considerably fewer prospective buyers.
The comments Iâve seen on Spanish sites suggest that non property owning Britons wanting to move to Spain on a visa will have to become resident before they can buy a home without being taxed. A visa on its own is not enough.
Is that an answer to my post? If so this news wonât mention the Golden Visa situation as that has already passed through parliament and been accepted. This is something quite different.
Look at their water resources and reconsider maybe? Might as well build in sub-saharan Africa.
As I read the report, the 100% tax proposed applies only to people who buy holiday homes.
It seems fair enough to me. Iâve seen the curse of AirBnB pushing up rent in the UK and in France. Iâm not surprised locals struggle to afford it.
Thats only going to get worse so they need to step that up as well, look at Saudi.
Had to rent an AirBNB in Bristol, near Clifton Downs last October. The prices were more expensive than they are in central Parisđł
As usual,it was mis-reported on the radio this morning,wrong information reported as a direct attack on Brits etc.
The chances of this become law in the near future is pretty slim as the Spanish PM struggles to get anything passed in parliament as his party doesnât have a majority.
Depends if there is cross party support. Not sure how likely that is in Spain.