The measure is unlikely to affect the property market since less than 0.1% of 4.5 million homes sold from 2013 to 2022 were purchased under the scheme, according to property website Idealista.
Spain is to scrap a 'golden visa' scheme that grants residency rights to foreigners who make large investments in real estate. Ending the scheme would help make access to affordable housing 'a right instead of a speculative business', Spanish Prime Minister Pedro Sanchez said.
The scheme allowed British people with holiday homes in Spain to circumvent rules limiting non-EU citizens to a 90-day stay in EU countries without needing a visa. Read more:What immediate action could tackle 'out of control' rent prices?'Forever chemicals' found in more than half of food and drink samples The measure is unlikely to affect the property market since less than 0.1% of 4.
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