Costa News Spain Breaking News | English News in Spain.
Sam Long, a property adviser for CNS News, has reassured investors that the proposed 100% tax on property purchases by non-EU nationals is unlikely to impact Costa del Sol. Despite concerns among foreign buyers, Long explains that political and legal barriers make the tax difficult to implement in the region.
Regional and Legal Hurdles
Spain’s political system is divided into 17 autonomous regions, each with its own tax authority. Even if the central government pushes for the tax, regional governments must approve it individually. Given Costa del Sol’s economic reliance on foreign investment, local authorities have rejected the proposal outright.
Additionally, EU laws protecting the free movement of capital make such a tax legally questionable. Long highlights that the law would likely face legal challenges in Spain’s Constitutional Court and could be overturned by the European Court of Justice.
Costa del Sol Leaders Reject the Tax
Local officials and business leaders strongly oppose the tax, warning of its potential economic damage. The mayor of Costa del Sol has publicly stated that the region will not implement the tax, emphasizing the importance of foreign buyers to the housing market and local economy.
“This rule would drive away property buyers, damage the housing market, and hurt local businesses. We cannot allow that to happen,” the mayor declared.
No Cause for Concern Among Non-EU Buyers
Long reassures non-EU property owners that they should not be alarmed. “People are understandably worried, but the reality is that this tax is not happening in Costa del Sol. The local government knows how important foreign buyers are to the region, and they won’t support a policy that pushes them away,” he stated.
For those considering property investment, securing Spanish residency offers an easy way to bypass any potential tax issues, as residents would be exempt from the proposed rule.
Political Motivations Behind the Proposal
Critics argue that Spanish Prime Minister Pedro Sánchez is using the tax proposal as a political move rather than an economic necessity. Long suggests that the policy is aimed at appealing to voters who support higher taxes on foreign property owners rather than addressing real economic concerns.
“This isn’t about improving the economy—it’s about politics,” Long remarked. “Fortunately, local governments have the power to decide, and Costa del Sol has made the right choice.”
With the rejection of the tax in Costa del Sol, the region remains a prime destination for international buyers and investors, ensuring continued confidence in its thriving real estate market.
For further inquiries, contact:
Sam Long
Property Adviser, CNS News
📧 Sam@grupodvos.com
www.grupodvos.com
📞 +34 622 35 82 67
