MADRID (Reuters) - Spanish Prime Minister Pedro Sanchez said he would propose to ban purchasers from outside the European Union from buying properties, as the government seeks to curb rising housing prices, which have become an increasing source of friction.

Spanish Prime Minister Pedro Sanchez plans to restrict property purchases by non-EU buyers as a measure to regulate housing prices. The proposal includes potential bans and tax increases on foreign acquisitions to combat speculation.

Non-residents from outside the EU bought some 23,000 houses and flats in Spain in 2023. Read more at straitstimes.com.

Spanish prime minister Pedro Sanchez will propose a ban on people from outside the European Union buying homes in the country, as part of a broader attempt to confront a housing crisis.

Spain is set to introduce a groundbreaking tax on properties bought by non-residents from countries outside the European Union. Prime Minister Pedro Sánchez announced this ambitious measure alongside a series of initiatives aimed at combating the nation’s ongoing housing affordability crisis.

Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

Following the success of the socialist party's proposal last week to slap a tax of up to 100 percent on non-EU property purchases.

Spain's Prime Minister Pedro Sanchez has announced plans to ban non-EU citizens, including Britons, from buying property in Spain unless they reside in the country. The move comes alongside his proposal for a tax of up to 100 per cent on such property deals.