100% property tax in Spain – sensation or manipulation?

On May 22, 2025, the real estate world was rocked by the news:
The Spanish government has proposed a radical bill that would impose a 100% tax on the purchase of resale property for non-EU residents.

The British, Americans, Canadians and other foreigners who have been actively buying up houses on the Spanish coast are at risk.
EU citizens are not at risk.
Exceptions are only provided for foreign professionals and businessmen living in the country.
It is also proposed:
- to increase VAT on short-term rentals;
- to tax empty houses;
- to limit investments through public real estate funds.

Why did this happen?
Prime Minister Pedro Sánchez explains the initiative as a step in response to the acute housing crisis, rising prices and a shortage of housing in Barcelona, ​​Madrid and the coastal regions.