Costa News Spain Breaking News | English News in Spain.
Laura Hamilton, TV-presenter and expert in property, explained why she believes it is still a great idea to purchase a property in Spain despite increasing opposition.
Locals worry that non-EU buyers’ influx will cause prices to rise and reduce their housing stock.
A proposed property tax from PM Pedro Sanchez may mean that the tax rate on purchases made outside of the EU will be increased by 100%.
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Hamilton believes that nothing will change despite the fact that the announcement has shaken Spain’s real estate industry.
She said that the plan was part of a 12-point strategy to combat Spain’s housing shortage, but it is far from law.
“Pedro Sanchez is also a member of a minority coalition, and all 17 autonomous regions are able to set their own transfer tax. It’s very unlikely that they will all agree.”
Hamilton explained that targeting non-EU homebuyers would not be a solution to the housing crisis.
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Hamilton then claimed that those who dislike UK tourism are in the majority, despite the vocal protests of recent months.
The majority of locals are in favor of foreign investment and visitors. She continued with an optimistic tone, “Tourism is important and welcome.”
Hamilton is currently renovating a house in Pollenca on Mallorca.
