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,

The country is at the forefront of a wider crunch spreading across Europe, and its prime minister has proposed a 100 percent tax aimed at foreign real estate investors.

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. Spanish Prime Minister Pedro Sánchez announced the plan this week to tackle housing affordability and high rents in the Southern European

To not become a society divided into two classes, the rich landlords and poor tenants,' said Spain's Prime Minister Pedro Sánchez.

Much of Europe faces housing shortages, but Spain’s is especially acute. It is not just rents: 75% of Spaniards own property, but for young people the prospect of a first-time buy is receding into middle age.

Plans to prohibit British nationals and other non-EU citizens from buying second houses in Spain have been revealed by Spanish Prime Minister Pedro Sánchez. The action attempts to stop foreign speculation and lessen the load on Spain’s already troubled housing market in the wake of growing worries over housing affordability in the nation.