Spain's government wants to reduce the number of houses sold to non-EU citizens by significantly increasing the taxes they pay.
The government wants a new tax to be introduced, where foreign buyers will be charged the equivalent of the total price of the house they acquire, announced Prime Minister Pedro Sánchez on Monday.
The proposal, which is to be processed in parliament, will apply to non-EU citizens who do not have legal residence in the region.
Sánchez's government is facing growing concern over rising housing prices in Spain, particularly in Madrid. The proposal is part of a larger package of measures.
