Spain proposes 100% tax on homes bought by non-EU residents

Pedro Sanchez announces measure in response to anger over rising housing costs

Spain has announced plans to impose a tax of up to 100% on real estate bought by non-residents from countries outside the EU, such as the UK, in an aim to tackle the country's housing crisis.

The measure was one of a dozen unveiled on Monday by the country's prime minister, Pedro Sanchez, as the government seeks to quell mounting anger over housing costs that have soared far beyond the reach of many in Spain.