100% Property Tax Nonsense

A potential 100 per cent tax on property purchases by non-EU, non-residents, announced by Prime Minister Pedro Sánchez in January, has sparked alarm among international property investors. Yet legal experts suggest the measure is unlikely to materialise in its current form. 

Spanish lawyer Miguel Manzanares indicates the proposal may represent a tax increase rather than a punitive levy, potentially translating to a modest rise in purchase costs. Parliamentary approval appears challenging, with the legislative process expected to substantially water down the original proposal. 

Louise Dell, Kyero Co-founder, warns potential buyers not to panic. While the announcement has caused temporary market jitters, Spain remains committed to attracting international investment. For British and American buyers contemplating Spanish property, the advice is pragmatic: continue to monitor developments, but do not let speculation derail your investment plans. As one industry insider noted, “This looks more like a policy exploration than an imminent implementation.”