Spain has announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK, in an aim to tackle the country’s housing crisis.
We need that here.
So much for my US escape plan
If you happen to have 500k EUR you can buy your citizenship there and avoid it.
There are cheaper options out there though.
What 500K “buys” you is residency. You will have to go through the normal citizenship application process after that if you want it.
You’re right, I misread that. Thanks for the correction.
I wonder if they’d do something about that program, since you gotta do 500k and then a 100% tax on a property to live in?
I went to look it up and just learned that they will be scrapping that next April.
Can I buy a house with that? Or is that literally just the cost of the citizenship
I’m not sure, but someone else said the program is being scrapped in April.
Didn’t they just have a government program to sell houses in certain cities to foreigners for 1€ because nobody in their cities would buy them? Only under the condition that they had to fix them up in a certain time period?
Now they are 2€ houses.
For the sake of clarity: not a government program but initiatives by certain local goverments.
Yup, I was told by a Spanish colleague that there are actually houses available in the country, but they are in the rural or less accessible places with little to no opportunities.
Sounds pretty great for remote work.
or retirement.hell i could probably retire now if I came into a 1eu house and lived in spain
It wouldnt be too difficult to write an exception for that.
The problem is a huge rural/city divide. In many cities you have rents on the level of Germany or Netherlands, but the typical income in Spain is a half to a third of what people make in Germany.
I thought that was italy.
That’s Italy…not Spain…
It is Spain as well, I googled before making the comment. Also my dad’s girlfriend has been looking into it, which is why I knew about it at all.
