Spain's government is going ahead with a controversial plan to slam Brits with a 100% tax on holiday homes in order to tackle a growing housing crisis.
Prime Minister Pedro Sanchez's Socialist party presented the plan to the country's Parliament yesterday, in which non-EU residents would have to pay double for properties in the country.
The bill aims to promote 'measures that enable access to housing, since we are facing one of the largest problems our society is currently confronted with', according to a copy of the draft legislation seen by Bloomberg.
Brits are the biggest buyers of Spanish properties outside of native Spaniards, making up 8.2% of deals.
The plans were first announced by Sanchez in January, amid massive malcontent over rising prices and dwindling housing stock that many in Spain felt was caused by foreign buyers snapping up homes.
