A 100% tax on Brits buying homes in Spain sounds satisfying – but it won’t solve our housing crisis | María Ramírez
Making visitors pay more may bolster Treasury revenues, but it’s no match for building more houses
Last October, tens of thousands of people marched through Madrid, Barcelona, Valencia and other big Spanish cities demanding affordable housing. Protesters jingled keys to make noise, held signs denouncing “speculators”, and threatened a “rent strike” while calling for action from national and local politicians. They had good reason to be angry.
Housing has become the most pressing concern for Spaniards, according to a December survey by the national polling centre, ranking higher than unemployment and migration. Look at the statistics and it’s clear why. The cost of renting in cities rose by around 30% between 2015 and 2022, forcing young workers to move to the outskirts of Madrid and Barcelona or settle for tiny, often barely habitable flats. In popular tourist regions like Valencia, Alicante and Málaga, rents have surged by 40%. For workers in the Balearic Islands, a commute by plane every day from Mallorca could be less costly than paying rent on Ibiza.
María Ramírez is a journalist and deputy managing editor of elDiario.es, a news outlet in Spain
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