Spain plans to limit the number of homes foreigners purchase by raising taxes by up to 100% on properties bought by people who are not EU citizens and do not reside in an EU country — often buyers of investment or vacation properties. Sánchez didn’t provide a timeline or details on how he plans to implement the tax.

Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

Simon Calder, travel correspondent of The Independent, said: “If any British buyer ever has to pay 100 per cent tax on a property purchase in Spain, I will eat my sombrero. The Spanish prime minister’s comments are squarely for domestic consumption.