Spain offers 100% tax on property purchases for non-EU buyers.

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Spain is planning to impose a 100 percent tax on real estate from buyers from non-EU countries such as the UK to improve housing supply by banning foreign purchases.

Prime Minister Pedro Sánchez has announced a punitive property tax plan for non-EU citizens who are not EU residents as part of measures to tackle a “severe” housing crisis.

With property prices rising and construction lagging far behind demand, Spain is one of the European countries that has been rocked by public anger over the difficulty of finding affordable housing.

“The West faces a serious challenge: not to become a society divided into two classes, rich landlords and poor tenants,” Sanchez said as he laid out the 12 steps.

This is a developing story.