In Spain, an ‘unprecedented’ housing tax on foreign-owned properties  Spanish Prime Minister Pedro Sánchez said last Wednesday that his government would issue a 100% housing tax on properties bought by residents from outside the European Union.

MADRID (Reuters) - Spanish Prime Minister Pedro Sanchez said he would propose to ban purchasers from outside the European Union from buying properties, as the government seeks to curb rising housing prices, which have become an increasing source of friction.

U.S. president Donald Trump has apparently confused Spain for a member of the BRICS bloc of developing economies, causing some head-scratching and jitters over possible tariffs in Madrid.

Spain's prime minister said too many foreigners were buying investment homes. But efforts to discouraging them could hit the economy, experts said.

As Spain continues dealing with a nationwide housing crisis, its government has proposed an unconventional fix to the problem — and one that will not please foreigners. Spain has announced plans to implement a 100% tax on homes purchased by non-European Union residents,

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.

Spain's Prime Minister Pedro Sánchez said too many people were buying Spanish homes as an investment rather than to live in.

Spain’s government will seek to limit the number of houses sold to foreigners by significantly raising the taxes they pay.

Public anger is growing as locals are being priced out of home ownership with rents being driven up by gentrification and landlords shifting to more lucrative, short-term tourist rentals, especially in urban and coastal areas.

Pedro Sanchez said the EU should put an end to anonymity of users in social-media platforms and hold their CEOs personally accountable if they fail to comply with regulations.

Spain could potentially ban non-EU residents from buying second homes in a bid to curb rising property prices.