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Spanish Prime Minister Pedro Sanchez discusses his proposals to ban people from outside the EU buying housing in the country, as part of his drive to ease an affordable-homes crisis. The Socialist leader proposed last week to slap a tax of up to 100 percent on such property deals. “These people are going to have to pay tourist VAT, so that there is fiscal justice,” Sanchez says. (SCREENGRAB FROM AFP)

Madrid, Spain — Spain’s Prime Minister Pedro Sanchez proposed on Sunday to ban people outside the EU from buying housing in the country, as part of his drive to ease an affordable-homes crisis.

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In a statement on Monday, GSIS said the transport hub dubbed as ‘Project Hub’, will be located at the corner of the Elliptical Road and Commonwealth Avenue.

The plan followed the Socialist leader’s proposal last week to slap a tax of up to 100 percent on such property deals in a country struggling with strong demand and soaring prices.

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“We are going to propose to ban non-EU foreigners from buying houses in our country, in cases where neither they nor their families reside here and they are just speculating with those homes,” Sanchez told a gathering of his Socialist party in the western Extremadura region.

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READ: Spain announces new measures to tackle housing crisis

Announcing a list of proposed measures last week, he vowed to offer more social housing, improve regulation and provide more support to renters.

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He blamed the crisis on measures passed by the conservative Popular Party when it was in government during the financial crisis that erupted in 2008.

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Announcing his 12-point program to alleviate the crisis on Monday, Sanchez said non-residents from outside the European Union bought around 27,000 houses and apartments in Spain in 2023.

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According to real estate registry data, Britons led the way for foreign property buyers in 2023 with 9.5 percent of the total transactions by non-Spaniards.

Sanchez has also announced higher taxes and tighter regulation for tourist apartments, often blamed for reducing the availability of residential properties and causing rents to spike.

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