Spain could impose a 100% tax on the value of properties bought by non-EU residents to improve the housing market for locals.

Amid rising real estate prices, Prime Minister Pedro Sanchez wants to impose a 100% tax on property bought by foreign speculators. How does the plan compare with other countries where housing affordability is an issue?

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

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.

Much of Europe faces housing shortages, but Spain’s is especially acute. It is not just rents: 75% of Spaniards own property, but for young people the prospect of a first-time buy is receding into middle age.

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.

Spanish Prime Minister Pedro Sanchez on Monday proposed a 100% tax on foreign-bought homes to help address the country's housing crisis. Why it matters: The tax would apply to all homes that non-EU residents purchase,