100 percent property tax in Spain 🇪🇸? What you NEED to know!

[@britslivinginspain]

Contact us! www.tdotandco.com/welcome/contact-us/

[@chesterlee6508]

Carefull ! I lived in Spain many a moon ago and on my only home they introduced a capital gains tax of 20% , when selling OH! and for me ,a foreigner 25%. When I bought the flat the law was I could sell it after 3 years tax free being my only home. The moral of this tale is that they can do what they want anytime.

[@chrisatkin7130]

At least you are explaining the proposal instead of blowing it out of proportion unlike some are or will do

[@britslivinginspain]

Thanks for watching and the comment 👍 😀

[@garethjohnson9511]

Thanks for the video. I know a bit about politics and the Spanish Government and you are quite right, this is scaremongering. Pedro Sanchez does not have a majority in the Spanish Parliament and indeed at least one opposition party has come out against this. He has had trouble passing even non contentious legislation let alone this! There is a long way from him announcing a proposal and it becoming law. So people can be optimistic that this proposal will not affect home buyers at all.

[@britslivinginspain]

😂 Ever thought about a career in politics? 🤔 and yes, the (mainly) UK press have done a great job of scare mongering... thanks for backing our video up from a professional experience point of view 👍 hope you guys are well 😄

[@CasaAntigua78]

Super video. Well informed. Appreciated. All countries have problems but I would rather live in Spain than anywhere else. 24 years coming up

[@britslivinginspain]

Thanks for watching and the comment 👍

[@tinadavies4195]

The way things are going on in Britain..id rather live in spain and pay the tax.

[@britslivinginspain]

Best comment so far! Thanks for watching 👍 ❤️

[@sampilgrim8235]

Thanks for the clarity. This is pretty much what I thought, so hopefully we will still be able to buy our retirement home on an NLV in a couple of years.

[@britslivinginspain]

Fingers crossed, but as we understand it- and in a NLV it shouldn't impact if it's your only property. If it gets passed through Congress etc. There will be plenty of notice and everyth8ng will be "set in stone". Thanks for watching and the comment.

[@stut1969]

Thanks you for the explanation. We are looking at buy a home (selling up in UK) to live in Spain full time in a few years time . We may be in touch

[@britslivinginspain]

@@stut1969 Thanks for watching and the comment. Even if you’re looking in a different area we are always available for advice.

[@patriciab3739]

Thank you guys....very well explained. 😎 Thanks so much for taking the time to explain. Hi Bob x

[@britslivinginspain]

No problem. Thanks for watching and the comment 👍 hope you're well

[@lindawilliams4933]

@@britslivinginspain is it. true you only. Pay. Tax. On. The fiscal. Value of you property when selling .avenida abanto san Luis

[@britslivinginspain]

@ Hi Linda. It really depends how much you bought for, how much you sell for, how long you’ve owned the property, whether or not you’re a fiscal resident and pay your taxes here. Feel free to pop into the office for a chat about your circumstances

[@jerrytaylor146]

Does the UK have a special property tax for foreigners?

[@britslivinginspain]

No idea. We've not lived there in well over a decade (some over 20 years) so can't comment.

[@nessah23]

No freehotels

[@IsabelBrown-x1z]

Thanks very much for all the information really appreciate your comments. ❤

[@britslivinginspain]

Thanks for watching and commenting. We always try to help where we can 👍

[@JennyDroughton]

Thanks very much for your level headed and as always really informative video. Great to have clarity instead of sensationalism 😊👍🏻

[@britslivinginspain]

Thanks for watching and the comment. We thought we may as well add some sensibility to this before it all gets out of hand...

[@dominic8218]

It’s not true, you are spot on! They don’t realise how damaging this can be to businesses like yourselves! Wouldn’t stop me buying in Spain and you can only deal with the actual rules as they stand today!

[@britslivinginspain]

Exactly. The housing crisis is real, though, but not in all of Spain- some places actively rely on enclaves of expats (both permanent living and holidaying, regardless of origin nationality) and tourism for local business's. Thanks for watching and the comment. 👍

[@susieadams1553]

​@@britslivinginspain thankyou for your balanced views . Here in the UK there are not enough affordable houses either maybe our Government should do the same for foreign buyers or perhaps that is what this is really all about .

[@britslivinginspain]

@susieadams1553 affordable homes isn't just a Spanish thing- lots of people can't afford to buy in the UK as well due to the differences in prices, availability, location and income...

[@dominic8218]

@ absolutely. I’m starting to think governments are there just to cause confusion and hassle. UK are doing a brilliant job of confusing also!! 🤯

[@johnpower3572]

Been like that in London for 40 years,join the club

[@grahambell9831]

Morning Andy Helen 👋 Thanks very much for sharing and giving your advice. Always balanced and appreciated.

[@britslivinginspain]

Thanks for watching and the comment 👍

[@grahambell9831]

@britslivinginspain 🫡🇪🇸🇬🇧🙂

[@robertjiggins9435]

Explained very well, Thanks

[@britslivinginspain]

Thanks for watching and the comment 👍

[@our-placeinthesun]

To many shouty men out there getting click bait views from this news and spinning it to get views! Great to hear you guys actually giving the truth out!

[@britslivinginspain]

🤣🤣🤣🤣🤣 thanks for watching and the comment 👍

[@gailadams8553]

Thank you for your sage words…

[@britslivinginspain]

Thanks for watching and your comment

[@MarI-Posa]

The various purchase taxes vary as they are set by the comunidad autónoma, not by the federal government per se, that suggests limits. I imagine in some tourist areas, where housing is at a premium, and they are of the same political persuasion, they will increase the tax significantly for non EU, non resident purchasers in certain provinces. What effect it will have for local access is hard to say, when there are no harsh fiscal restrictions for EU non residents.

[@britslivinginspain]

We've heard of developments today relating to the EU and this not being possible (tax increase for non eu). Can't comment further until we find a credible source

[@martyndj]

Good for calling out the Beeb Helen.

[@britslivinginspain]

🤣👍🙏 thanks for watching and the comment 👍

[@stut1969]

Thank you

[@Biged0156]

Good to get the proper info.

[@britslivinginspain]

@@Biged0156 thanks for watching and the comment 👍

[@francisco7661]

ITP is determined by autonomous regions not central government remember that

[@britslivinginspain]

This is correct and I am sure the autonomous communities that relay on tourism and foreign visitors will not agree to a blanket 100% tax on property purchase

[@ianbarr5110]

Thanks.

[@britslivinginspain]

Thanks for watching and the comment 👍

[@backoftheNet-lc9jp]

Current Tax is 10% for non Residents (I believe locals don't pay this) and for sure increasing the Tax (or just talking about it) will\does have an impact on the Market, do people jump quick now to Buy "just in case" , others to jump to Sell (when price is high) or hold off till house prices drop as buyers move else where....Upto 100% !!!, even another 10% will impact buyers budgets. I agree they need to help the locals (or they will be voted out of power) and this will send shockwaves in the Property market and should be reported. When local Rent and Property Prices are up 50% in 5yrs, and locals get 3% pay increases. the Bubble will Burst at some stage. Could be good for Buyers to hold off and negotiate the price down , or the Property won't sell. I am sure data in the next few months will show the impact of such Proposed strategy.

[@britslivinginspain]

Each autonomous region sets their own ITP, but it is the same whether a national or non national buyer- and it's not 10% in all areas. There is a reduction in some areas for first time buyers under a certain age with stipulations regarding selling or renting out that property in the future.

[@HKFunster]

The BBC headline is to attract attention , the sub headline gives more information but is not incorrect 'Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK.' Key words are 'up to', it doesn't mean all purchases automatically taxed at 100% Part of the problem is peoples unwillingness to spend more than 2 seconds on looking for the actual details and just react without much thought. I think the BBC did a fair job without diving into all the unknown possibilities and anyone with even a small grasp of Spanish politics knows 100% tax stands 0% chance of passing.

[@britslivinginspain]

Unfortunately most people only read the sensational headline. The press in the U.K. release these headlines about Spain constantly

[@pamelanaylor8262]

Could you clarify if this is the proposed increase of property purchase tax or and increase in the percentage of non residents tax that we pay each year- we pay 25% of 2% of the cadastral value of the property which is roughly 200 euros per year. Many thanks Glen and Pam

[@britslivinginspain]

This is a proposed increase in Property Purchase tax (in Alicante province it's currently 10%) thanks for watching 👍

[@MrsParsons63]

I think what a lot of the Spanish people miss is they sold there houses which is meant to be there inheritance in the first place to the foriegners they were never forced to do so you can’t have it both ways

[@britslivinginspain]

In our area, we don't tend to get many Spaniards selling, apart from those in places like Madrid that had a holiday home that they no longer use. A lot of the developments in our area were built aimed for the holiday home market in the 80s and 90s. Belts different in all areas of Spain, though and not easy to do a "generalisation" for the videos. Thanks for watching and the comment. 👍

[@MrsParsons63]

@ in my village the parents sold the grandparents houses to buy there kids flash cars then realised they had out priced the houses for the kids to buy in the village

[@PortugalCarp]

It makes my laugh when they blame the tourists for the high rental prices! They have been doing that here in Portugal for years. It's not the tourists who raise the prices, it's the greedy local owners, they see the tourists and raise the prices no matter what!

[@marksussex383]

Watch property prices go up now it will cause panic buying i was due to view one and just had an email to say it's gone up another 7k

[@britslivinginspain]

At the moment here in Spain it’s the lack of availability in the resale market that’s pushing up the prices.

[@marksussex383]

@britslivinginspain yes I understand that however it's bound to make people think they only have so long to buy a property before any changes if any at all which will push up prices

[@lynnmcnamara2342]

There is no crisis! Zero! I live there too also there is no shortage of cheap houses, there are thousands, empty, they need to help the Spanish people with renovation costs, problem solved! Young Spanish person takes on a cheap property often in towns, then help with renovation costs by taking off the 21% tax.

[@britslivinginspain]

This is a good point and another part solution would be for the government to buy all of the bank repossessions at cost. This would cancel the debts in the banks and free up thousands of vacant properties.

[@lynnmcnamara2342]

@ absolutely it seems to me they need some one who thinks in the housing dept!

[@jasonsweb1]

ahhh thats what i thought👍

[@simonsuddons5214]

BBC report on this earlier today was so inaccurate. Waste of my paying the licence fee. It used to be a good broadcaster. Shame.

[@britslivinginspain]

@simonsuddons5214 yeah. One of the reasons why we did this video.. thanks for watching and the comment 👍

[@iantobanter9546]

Cancel your licence. It's entirely optional.

[@kenwilkins8237]

Wow you still pay the Telly tax. Defund the corrupt biased BBC now😊😊

[@Stevejohnstu]

It’s absolute bonkers ! Why not heavy tax all the airbnbs owners in the big cities

[@britslivinginspain]

Watch all the video, it explains lots

[@jasonsweb1]

if i move to Spain on NLV i would of thiught id be exempt from 100 tax on purchase as i would be becoming a resident? your thoughts please.

[@britslivinginspain]

Watch all the video, it explains lots

[@ourturnnow]

Nice one lads, too much scaremongering for clicks on other youtube channels. lol, thumbnail 100% tax lol.

[@britslivinginspain]

@@ourturnnow🤣 at least we said we were going to do a click bait thumbnail (and it was true to video content) Thanks for watching and the comment 👍

[@lindawilliams4933]

Are. They. Building approximately 5000 properties near hyperber supermarket are they affordable housing Most estate. Agents advertise saying that. They speak multiple languages obviously looking to sell to foreign buyers

[@britslivinginspain]

Yes. We've covered this before (and about the additional roundabout on the CV 905) depending on what you read, between 5000 and 7200 properties (we know it's nearer 5,000)- and there are multiple developers. The development is called La Hoya, and will also include social housing. Thanks for watching and the comment. 👍

[@tomsmith2382]

Jesus !! Get to the point the beginning is exhausting

[@JamesCampbell-o6u]

Hi there is a block of flats in Cabo Roig which has been empty for at least the last 4 years, why cant these flats not be occupied by Spanish people looking for homes.

[@britslivinginspain]

@JamesCampbell-o6u that's the sort of thing we're think the government is looking into also. Thanks for watching and the comment 👍

[@lynnmcnamara2342]

It’s made me so cross all of this.

[@britslivinginspain]

@@lynnmcnamara2342 yeah. It's been blown all out of proportion for no reason- thats why we did the video. Thanks for watching and the comment

[@markl9349]

Can't see 100% tax happening, it's just a complete joke and would completely ruin the credibility of the Spanish property market. Their property taxs are already very high, they would just be punishing themselves!

[@britslivinginspain]

We can't see it happening either, for MANY reasons. Thanks for watching and the comment 👍

[@davidjohndrumm]

They will not attract investment which will result in lower investment in construction and subsequent unemployment. So the number of homeless will increase. Spanish politicians never fail to surprise us.

[@bromptinowner763]

Gutter Press scaremongering BBC, NO (my opinion yes)

[@britslivinginspain]

Thanks for watching and the comment 👍

[@immigrantsontour]

Out of interest, where have you obtained this information from!? Where does it state this proposed high rate of tax for Non EU property buyers, is NOT for Residential purchases. Is this fact or are you, like most others, speculating what it actually means, and who will or will not be taxed at a higher rate?

[@britslivinginspain]

@@immigrantsontour Our information is from the citizens advice bureau Spain who translated the speech made by Pedro Sanchez and also the accompanying documentation. The link for this is in the description of this video. We are not in the habit of making false statements nor click bait titles.

[@britslivinginspain]

Also, we very much doubt this proposal will pass into law and we are trying to reassure people who want to commit investment in Spain.

[@immigrantsontour]

​@@britslivinginspain Thank you for the reply. The link didn't take me to the article but I found it in the end. All I asked for was where this information was obtained from, I never accused you of click bait, I merely asked the question so the reply stating where you got it from would have sufficed. So, all we know is that he is targeting second homes, nothing else, with taxes up to a proposed 100%. No, imagining what will happen or how, but the simple fact of targeting second homes for non EU, non residents, and at the moment anything else is as I said, supposition as we can't imagine or second guess anything in that scenario. Thank you .

[@immigrantsontour]

​@@britslivinginspain You cannot reassure anyone that is non EU, non residents for future investment as you do not know. Now, you are making assumptions. The extract from CAB clearly states he is targeting second home owners in that bracket so that tells me and everyone else that an investment is being proposed to be heavily taxed unless you are from the EU or a resident. Make your mind up which way it is as now you are saying two different things of which it clearly states the opposite of one of your statements. Stick to the actual stated facts as that statement is click bait. Thank you

[@kl5631]

Aren't you just as guilty by not acknowledging this could get through the legislative process and enacted by the autonomous regions and so it will have an impact on non EU/non residents wishing to buy a holiday property for their own use.

[@britslivinginspain]

Not sure how you work that out. As we mentioned, it's a PROPOSAL not even a draft for consideration. Even then it has to go through parliament and Congress before it is voted on and made law. If and when this starts to go through the process of potentially gratifying this into law, then we will update information accordingly.

[@kl5631]

@@britslivinginspain Not sure you read my comment correctly. Clearly I said IF the proposal (number 10 on Sanchez list of 12) passed through the legislative process and IF the 17 autonomous regions then implemented it it is patently obvious it will have a fiscal impact on any non EU/non resident Third country purchaser of a holiday home in Spain. For example as a UK citizen my holiday home purchase to use under the 90/180 Schengen rules would cost me significantly more if I was buying if/when this proposal was passed into law. Trying to protect your business by not acknowledging that fact is unethical at best!

[@britslivinginspain]

Our "not sure how you work that out" was in relation to "aren't you just as guilty" comment and maybe you didn’t listen to us properly? We said we don’t believe this will become law and we hoped we wouldn’t be wrong in our belief of that.

[@takenoprisoners-u3x]

Well there is your English Brexit for you. Just another of the many benefits. Fortunately some of us have Irish passports as well so its no problem for us. I would hate to be a Scot anti Brexiteer without an Irish passport with property in Spain right now. That must be really sickening especially if they voted No back in 2014.

[@britslivinginspain]

@@takenoprisoners-u3x Not all Brits wanted Brexit or believed the lies of those who pushed it. Unfortunately us residents in Spain weren’t allowed a vote.

[@takenoprisoners-u3x]

@@britslivinginspain Eh? Reports say many British immigrants in Spain voted for Brexit.

[@britslivinginspain]

Those that had been out of the UK over a certain period of time when the vote was had were not eligible, or able to vote in the referendum..... the press and other organisations can present any figures to support their point of view...... does "We send the EU £350million per week, let's fund our NHS instead" sound familiar?

[@takenoprisoners-u3x]

@@britslivinginspain Yes it was a lying slogan fit only for the gullible and those that didnt care. The point is Brexit happened because of a little thing called English rule Britannia exceptionalism. The idea that English run Britain had somehow lost its Independence and authority to the EU hurt that delusional sense of Rule Britannia to the point where people didnt care about consequences only about a sense of sticking it to Johnny foreigner. Now they feel the consequences many of them are crying foul and this is not what I voted for. Yet here we are. As a Scot I feel even more rage at those who voted no in 2014 to Independence as everything that has happened since would have been avoided. No Brexit no Boris Johnson no Liz Truss no Theresa May no David Cameron no Sir Kid Starver. But here we are. Consequences.

[@takenoprisoners-u3x]

@ Having replies deleted shows nothing but a lack of self conviction and insecurity in what you're trying to say. Also its fucking pathetic.

[@youtuberTool.]

Spains already lost the wealthy investment with their wealth tax. They are only hurting themselves. Also big buisness will not invest in this country neither.This is why it is like it is. You cant grow without investment. Sounds like they are targetting the dodgy rental sector.

[@britslivinginspain]

It is the short term/holiday rental market that they have a problem with.

[@CasaAntigua78]

Big business are investing in Spain😂

[@MrsParsons63]

They have plenty of land in Spain they should be building ! We have given up a lot of green belt land in uk to do just that to accommodate immigrants

[@britslivinginspain]

There's always lots of things governments in all areas and could be doing; We don't get involved with things like that as a rule- we did this video to advise concerned people of the full picture, not just crappy headlines.

[@kk2ak14]

Maybe is better to choose another third world country 😂

[@britslivinginspain]

@@kk2ak14 Please do 🙏

[@adamnuttall5839]

You guys just guess. Make it up as you go along

[@britslivinginspain]

Go look at the link mentioned in the video. (References the Spansh government sources) Everybody loves a keyboard warrior. Thanks for your comment- helps the algorithm 👍

[@moserruya805]

There go my plans for Spain, Portugal maybe.

[@britslivinginspain]

Did you watch all of the video?

[@Benito-lr8mz]

Maybe Sea of Tranquility in Moon ; stunning views and beaches

[@chesterlee6508]

The new tax law in Portugal on my basic UK pension is now 22% for the privilage of residency.