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León Fernando Del Canto discusses Spain’s latest real estate policies: the end of the ‘golden visa’.
Spain currently faces a housing shortage and rising property prices. To address this the government has announced plans to end the ‘golden visa’ programme by March 2025 which allowed non-EU nationals residency via investments of at least €500 000.
The government has also proposed a series of housing policies.
What are the policies?
The government’s policies include:
- A tax of up to 100% of the property purchase price for transactions made by non-EU nationals.
- A 100% allowance on rental income for landlords renting properties at or below the reference price index.
- Restricting the special tax regime for Spanish real estate investment trusts (SOCIMIs) to those providing affordable housing.
- Classifying tourist properties as an economic activity subject to VAT and introducing stricter regulations on short-term rentals.
- Expanding Spain’s public housing stock by transferring existing properties and land to the public...
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