Pressure on Spain’s housing market has been exacerbated by overtourism and the proliferation of short-term holiday rentals. View on euronews

PRIME Minister Pedro Sanchez has announced plans for tax increases on tourist flat rentals and restrictions on non-EU residents buying a home in Spain.

Spain's decision to impose steep taxes on non-EU property investors using platforms like Airbnb has sparked debate over whether countries like Cyprus and Greece will benefit from the shift in demand.

Housing has become a major issue in Spain as the tourism industry is blamed for high rental and purchase prices

Spain's prime minister said too many foreigners were buying investment homes. But efforts to discouraging them could hit the economy, experts said.

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. That downturn was fueled by years of overbuilding and property speculation,

The government of Spain has proposed a new tax of up to 100% on property purchases by non-European Union citizens to put a stop to Airbnb purchasing properties throughout the country. New law goes into effect immediately in order to prevent potential terrorism threats and put a stop to overtourism Just as Italy’s residents have long complained that Airbnb has overpopulated historical centers in major cities across the country,