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.