Pressure on Spain’s housing market has been exacerbated by overtourism and the proliferation of short-term holiday rentals. View on euronews

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties that non-European Union residents buy.

Spanish Prime Minister Pedro Sanchez on Monday proposed a 100% tax on foreign-bought homes to help address the country's housing crisis. Why it matters: The tax would apply to all homes that non-EU residents purchase,

Amid rising real estate prices, Prime Minister Pedro Sanchez wants to impose a 100% tax on property bought by foreign speculators. That downturn was fueled by years of overbuilding and property speculation,

This move is part of Spain's strategy to address its housing crisis. María Ramírez, deputy managing editor of Spanish news outlet elDiario.es. She told The Guardian: "The policy

Spain is planning to impose a tax of up to 100% on properties purchased by non-residents from countries outside the European Union, such as the United Kingdom. Prime Minister Pedro Sánchez announced this "unprecedented" measure as part of a broader strategy to address the nation's housing crisis and improve affordability.