Spain PM proposes to ban home purchases by non-EU buyers

MADRID: Spain´s Prime Minister Pedro Sanchez proposed on Sunday to ban people outside the EU from buying housing in the country, as part of his drive to ease an affordable-homes crisis.

The plan followed the Socialist leader´s proposal last week to slap a tax of up to 100 percent on such property deals in a country struggling with strong demand and soaring prices.

“We are going to propose to ban non-EU foreigners from buying houses in our country, in cases where neither they nor their families reside here and they are just speculating with those homes,” Sanchez told a gathering of his Socialist party in the western Extremadura region.