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HomeForeign NewsSpanish PM Proposes Property Purchase Bàn for Nigerians and other Non-EU Nationals...

Spanish PM Proposes Property Purchase Bàn for Nigerians and other Non-EU Nationals to Combat Rising Housing Costs

Spanish Prime Minister Pedro Sanchez has proposed a ban on property purchases by non-EU nationals in Spain as part of efforts to tackle rising housing costs.

Speaking at a rally in Plasencia, western Spain, on Sunday, Sanchez announced,

“We will propose banning non-EU foreigners who are not residents, along with their families, from buying property here, as they are doing so to speculate.”

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Earlier, on 13th of January, 2025 Sanchez presented a plan to impose a tax of up to 100% on property purchases by non-EU nationals, such as Nigerians, who do not live in Spain. This is part of broader measures aimed at increasing the housing supply and controlling demand.

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A source close to Sanchez clarified that the ban is still under discussion, with the main focus currently on discouraging non-resident purchases through higher taxes.

Spain is grappling with a housing shortage, exacerbated by gentrification and the influx of tourism, with the Central Bank predicting a 500,000-house shortfall this year. [CONTINUE READING HERE]>>>>

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