Amid rising real estate prices, Prime Minister Pedro Sanchez wants to impose a 100% tax on property bought by foreign speculators. That downturn was fueled by years of overbuilding and property speculation,

Spain’s prime minister is pushing for far-reaching action to ease the nation’s housing crunch, including a tax of up to 100% on property purchases by non-European Union buyers.

Spain is planning a raft of measures to address its brewing housing crisis, including an up to 100% tax on properties bought by people who are neither citizens nor residents of the European Union