Spain considers the introduction of taxes from 100% on the purchase of real estate by citizens outside the European Union. The aim of this measure is to mitigate the problem of lack of apartments, although property taxes are one of the main sources of income for many European countries.
According to the European Commission, property tax in 2023. It was 0.3% of GDP in the Czech Republic and Estonia, up to 3.7% in France. The EU average was 1.9%.
The most asset tax in GDP has France (3.7%), and the least Czech and Estonia (0.3%). Including the data of OECD and Earth such as the UK, Switzerland and Turkey – the UK is ranked with France at the top. Belgium is also above 3% (3.2%), while Spain occupies the fifth place with 2.5%.
In Germany, the property tax consists of only 1% of GDP, while in Italy it is 2.1%. Almost half of European countries record less than 1% of GDP through property taxes.
When it comes to revenue, the United Kingdom is 2023. Collected the most – as much as 115 billion euros, while France was the second from 104.5 billion. Italy, Germany and Spain complete the first five. In total, the EU revodes 318.8 billion euros from property taxes.
Regarding the share of property tax in total taxes, France is again at the top with 8.4%, while the EU average is 4.7%. Spain recorded 6.7%, Italy and Denmark 5.1%, and Germany only 2.5%.
Special significance have taxes on the transfer of ownership, which accompanies real estate traffic. Italy are leading with 1% of GDP, while Spain, Belgium and Portugal generate 0.8%, transfer investor me.
The proposal of Spain on the tax of 100% for van-EU customers caused a fierce debate in Brussels. Professor of the economy from the University of Pompeu Fabra in Barcelona, Hose Garcia Montalvo, warned that housing taxes are not the most efficient tool for solving market problems.
“Constant changes and lack of coordination between tax policy and measures to increase the offer of apartments reduce their efficiency and lead to unpredictable market outcomes,” he said.
Diana Hourani from the OECD adds that the improvement of the property tax system can increase revenues, righteousness and efficiency, but also alleviate pressure on the growth of apartment prices.
