The PSOE Proposes Raising Taxes on Socimis, Vacant Homes, Foreigners, and Tourist Apartments.

The Spanish Socialist Workers' Party (PSOE) has filed a bill in Congress seeking to introduce significant tax increases in several segments of the real estate market.

The main sectors affected by this proposed tax increase would be:

• Socimis (Listed Public Limited Companies for Real Estate Investment): These companies, which manage large real estate portfolios, would see their tax conditions modified.

• Vacant homes: The aim would be to discourage the ownership of unused properties, possibly through surcharges on the Real Estate Tax (IBI) or similar measures.

• Foreigners (non-residents): The proposal could contemplate an increase in the tax burden on real estate ownership or investment by non-residents in Spain.

• Tourist apartments: This segment, already under scrutiny by many local governments, would face increased tax pressure, which could affect its profitability and business model.

The PSOE initiative seeks to modify the real estate tax landscape with a focus on wealth redistribution and the promotion of rental housing, while also attempting to control phenomena such as speculation and the impact of mass tourism on access to housing.