FridayOL

Spain Cracks Down on Foreign Home Buyers: Sánchez Announces New Reform

elEconomista.es

In a bid to curb soaring housing prices, Spanish Prime Minister Pedro Sánchez has unveiled a package of measures targeting large investors and foreigners. The new reform aims to limit foreign home buying and introduce a fiscal overhaul of tourist apartments, tackling the pressing issue of housing affordability. With the goal of regulating the market, Sánchez's plan is set to impact real estate investors and the short-term rental market. As the Spanish government seeks to promote affordable housing and control rising costs, this move is expected to have significant implications for the country's housing sector and economy, particularly in popular destinations like Barcelona and Madrid, where housing prices have skyrocketed in recent years.