Spain has warned non-EU residents, including Brits, they will face a huge bill if they want to buy a second home in the country – and several other European nations could soon follow suit
Brits hoping to move overseas for a life in the sun may soon have a rude awakening – with taxes of up to 100% being imposed in some countries(Image: Getty Images)
It appears that several countries, including France and Portugal, are taking measures related to Brits’ holiday homes following the news that non-resident citizens from countries outside the European Union, such as the UK, could face hefty tax bills for property purchases in Spain. This announcement by the Spanish Prime Minister has caused a stir among British people who dream of retiring by the Mediterranean coast.
However, those hoping to settle into the sun-drenched settings of Portugal, France, or Greece might now encounter additional obstacles, according to reports. In Portugal, there’s growing concern due to a lack of affordable housing, evidenced by protesters carrying banners with stark messages like: “I have to choose between paying for a house or eating.”
France addressed issues around housing availability late last year by passing legislation designed to tighten controls over the booming short-term tourist rental market, which saw an increase from 300,000 to 1.2 million listings between 2016 and 2024.
Spain’s Prime Minister announced a huge tax hike for Brits buying property abroad(Image: Getty Images)
Similarly, the Greek government stepped up last year by imposing a widespread ban on new short-term rental licences in key parts of Athens, aiming to alleviate “a lot of pressure on society” triggered by this trend.
Spain has pinpointed the need for affordable housing as the key driver behind its clampdown on second home ownership. The country is rolling out an ambitious raft of policy proposals aimed at overhauling the construction sector, securing affordable rentals, and rewarding adherence to rental regulations, reports the Mirror.
This includes slapping a tax of up to 100% on properties purchased by non-European Union residents, which would hit Brits, according to Mail Online. However, British buyers have historically been drawn to Spain’s promise of sun-soaked luxury villas at a fraction of UK prices.
The move comes after widespread protests against tourism gripped Spain last year(Image: MORANTE/EPA/REX/Shutterstock)
These aren’t the “affordable” homes that average working Spaniards are clamouring for, and the influx of foreign property speculators hasn’t improved the perception that locals are being edged out to favour international investors.
Spanish Prime Minister Pedro Sánchez highlighted that non-EU residents acquired 27,000 houses and flats in Spain in 2023 alone, “not to live in them, but mainly to speculate”. Meanwhile, despite Greece being a favoured spot for British tourists, Athenians expressed their frustration last summer with graffiti messages such as: “Tourists Go Home! Greek State Kills.”
Another stark image showed two buildings marked “Airbnb” engulfed in flames, with the slogan: “Tourists Enjoy Your Stay In The Cemetery Of Europe”.
Aerial Paris Eiffel Tower and Park Sunrise(Image: Getty)
Furious demonstrators have hit the streets of Athens, expressing their anger at the surging number of tourists invading their city. The protesters were heard chanting: “They are taking our houses while they live in the Maldives” – an allusion to the more affluent homeowners who put up their properties on Airbnb.
Anna Theodorakis, a local who was pushed out of her dwelling in Metaxourgio, Athens, conveyed to France24 that the state of affairs in the vibrant metropolis is becoming “very depressing”. “I think the answer is to go in the streets and block everything and just not do something because people are losing their homes,” she said.
Despite the influx, with Greece welcoming 32 million visitors in 2023, the country has shown reluctance to disseminate any official messages that might deter overseas visitors.
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Publish date : 2025-01-14 20:55:00
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The post France and Portugal may follow Spain’s tax hike and tighten rules for Brits dreaming of life abroad first appeared on Love Europe.
Author : love-europe
Publish date : 2025-01-22 11:02:29
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