The measure proposed by the Spanish government to limit the purchase of homes by foreigners from countries outside the European Union will not affect properties purchased before the initiative comes into force. “This is a controversial measure“, as it affects the powers of the country's regional authorities. “This will require technical and legal reports and most likely passing through the Congress of Deputies (the lower house of parliament), so we doubt that the measure will be implemented earlier than six months“, said the president of the National Federation of Real Estate Associations of the Kingdom, José María Alfaro. According to his version, “this will only affect new home purchases once the rules come into force”.
He believes that the measure will not affect those who buy homes for permanent residence. “But at the moment this is not guaranteed”, added the president of the organization. According to him, the federation is skeptical about the measures proposed by the authorities to ensure access to housing for Spanish residents. “Measures are needed that are not based on prohibitions or restrictions and that do not create fear in the market”, concluded Alfaro.
On January 13, the head of the government of the kingdom, Pedro Sánchez, said that the authorities plan to introduce restrictions on the purchase of homes by foreigners who do not reside in the country, from countries outside the European Union. Access to housing has become the biggest challenge for the working class, he said. The prime minister explained that the authorities should give priority to apartments being used for housing, rather than being rented out to tourists. Sanchez explained that Spain will increase the taxes that non-EU foreigners will have to pay when buying - up to 100% of the value of the property.
The problem of access to housing is regularly discussed in Spain. This is due to the sharp increase in the price of both buying and renting apartments and houses. Earlier, the authorities also decided to stop accepting applications for golden visas from April. - granting residence permits to foreigners in exchange for large investments.
Detailed statistics on average property prices in Bulgaria by cities and neighborhoods can be seen HERE