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Since 2013, Spain has offered the “Golden Visa” program, allowing non-European Union citizens to gain residency by investing at least €500,000 in real estate. However, the program is set to end on April 3, 2025, as part of government efforts to curb the housing crisis and limit speculative foreign investments.
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The End of the Golden Visa
Spanish Prime Minister Pedro Sánchez announced the decision, arguing that the program has significantly driven up housing prices in major cities like Madrid, Barcelona, and Valencia. According to the Spanish Ministry of Inclusion and Social Security, 94% of Golden Visa holders invested in real estate rather than other economic sectors (Source: Fragomen).
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A Radical 100% Property Tax Proposal
Sánchez has also proposed a 100% tax on non-EU foreigners buying property in Spain, meaning a €300,000 home purchase would require another €300,000 in taxes.
While this measure has yet to be approved, it aims to reduce housing pressure and prioritize local buyers. “We want young people and families in Spain to have access to affordable housing,” Sánchez stated (Source: Al Jazeera).
Oh yeah, good luck with that. Hey, tell me something. You’ve got all this money. How come you always dress like you’re doing your laundry? Explain that. Leela, Bender, we’re going grave robbing.
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