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's Prime Minister Pedro Sánchez said too many people were buying Spanish homes as an investment rather than to live in.

Spain is planning to impose a tax of 100% on homes bought by non-EU residents as it looks to tackle an entrenched housing crisis in the country.

Spain’s prime minister is pushing for far-reaching action to ease the nation’s housing crunch, including a tax of up to 100% on property purchases by non-European Union buyers.

Spain is planning to impose a 100 per cent tax on properties for buyers from non-EU countries such as the UK as residents of the country's cities grapple with soaring rents.Prime Minister Pedro Sanchez announced on Monday the plan for the property tax as part of a number of measures to tackle Spain’s housing crisis.

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by non-European Union residents. Spanish Prime Minister Pedro Sánchez announced the plan this week to tackle housing affordability and high rents in the Southern European nation.

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.

To not become a society divided into two classes, the rich landlords and poor tenants,' said Spain's Prime Minister Pedro Sánchez.