Housing policy in Spain has entered a new phase. The central government, headed by Pedro Sánchez, has announced measures to support the conditions of access to the real estate market, especially targeting the brakes on EU citizens. Residence visas for the purchase of houses are also suspended. Time will tell whether these policies achieve the desired balance between protecting local residents and maintaining the attractiveness of Gran Canaria as an investment and tourism destination. Tourist housing will be considered a business and will be taxed as an economic activity. This includes the application of IGIC in areas with tourist saturation and difficulties in accessing housing. This approach, although controversial, seeks to balance the market and protect local residents in areas such as Maspalomas, Mogán or Puerto Rico.
Norwegians, British, Moroccans and Mauritanians: the new panorama. One of the most significant changes will be the increase in the tax burden for foreign buyers from outside the EU who do not have residence in Spain. The objective is clear: to discourage the purchase of property, especially in areas with high tourist pressure such as the south of Gran Canaria.
These restrictions are not only intended to protect local residents, but also to curb the phenomenon of homes exclusively intended for holiday rentals, which reduces the supply for residential rentals. The Government's plan is not limited to curbing foreign purchases, but also proposes incentives for local owners. Among the highlighted measures is the total exemption from personal income tax for those landlords who lower their prices.
Another key part of the plan is the creation of a programme of aid for the rehabilitation of empty homes. However, these measures have also raised concerns in the real estate and tourism sectors, which fear a drop in sales. At a time when housing has become a critical issue both nationally and at European level, the government's new policies seek to balance the market and guarantee access to housing for those who need it most. However, these measures also raise questions about their impact on foreign investment and the sector.
