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Retiring/relocating to Spain risks

Journalist: Marc Shoffman, Freelance

ended 14. January 2025

Hi

I am writing a piece for MoneyWeek looking at the impact on British expats after Spain announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK.

Will people reconsider moving/buying to Spain? What should people planning to retire/relocate to Spain consider?

It is also scrapping its Golden Visa programme in April, how will this impact people looking to relocate or retire in Spain?

Kind regards

Marc

3 responses from the Newspage community

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Editor
Tony Redondo
Founder at Cosmos Currency Exchange
Great news for the likes of Portugal, Italy and Greece! Spain’s new tax on real estate bought by non-EU residents, including the UK, will deter British expats from moving or buying property, especially with up to 100% tax on high-value properties. This change, along with the scrapping of the Golden Visa in April, will make Spain far less attractive for non-EU buyers seeking residency through property investment. Prospective expats must factor in increased costs and navigate more complex residency processes, as alternative visa options like the non-lucrative visa require proof of sufficient income. High-value property demand should drop. As always, expats should consult legal and tax advisors to fully understand the long-term financial and bureaucratic implications of relocating to Spain.
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Scott Gallacher
Director at Rowley Turton
A 100% tax on property bought by non-residents would crush Spain’s retirement appeal for Brits overnight. It’s not just the cost—it’s the competition. France, Portugal, and Florida all offer sunshine and, with such a tax, far better comparative value. Spain risks pricing itself out and losing the British retirees who drive local economies. This policy doesn’t shift the dial—it snaps it.
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Prem Raja
Head of Trading Floor at Currencies 4 You
The Spanish Government has decided that to tackle the current housing crisis that a 100% tax could be introduced for foreign buyers as a way to potentially defer people from buying property in Spain. With the Golden Visa scheme also coming to an end soon- it seems the Spanish Government's stance is very much against overseas buyers right now.

Right now there is still a window for foreign buyers to take advantage of the Golden Visa scheme and we are seeing clients from the UK & U.S do this, especially while exchange rates are still favourable.

At this point it is unclear how this will affect the market- international buyers are definitely driving up prices in Spain, and these measures may relieve price pressure for a little while, but for Brits particularly, Spain will always be the most popular destination for a holiday home, and I do not see this changing, but due to these laws, we may see other countries such as Portugal or Greece benefit from more international buyers.