Party in Spain calls for limits on foreign residents buying property

The Republican Left of Catalonia has proposed a motion in the Spanish Congress to restrict foreigners from buying property in Spain without proving five years of continuous residence, aiming to combat real estate speculation and prioritize local access to housing. They suggest implementing a regional authorization system for property purchases, seeking to limit the property purchasing power of residents with less than five years of residency, similar to measures in other countries like Canada, Denmark, and New Zealand. This initiative would require foreigners planning to buy homes in Spain to first apply for a permit from the housing department of the region where the property is located, potentially impacting temporary residents and non-EU non-residents.

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