Renting in Spain requires caution

Main measures of the PSOE project (May 2025):

• Tourist resorts: VAT is increased to 21% (legal treatment in the context of a commercial activity).
• SOCIMI (Sociétés d'Investissement Immobilier cotées): Increase of the tax from 15% to 25%, while at the same time 60% of the real estate share remains affordable and the proceeds are reinvested.
• Foreign Buyers (non-EU): New national property tax, non-transferable between regions. Provision for individuals and companies outside the EU.
• Vacancy: Taxes on vacant accommodation are increasing; Municipalities are encouraged to increase the IBI levy.
• Plus value (Augmentation de la valeur foncière): Adaptation to current decisions of the Cour Constitutionnelle.
• Reduction of local tax IRPF: extension of tax benefits (up to 100%) also to unused areas if the location is instead of the reference price.
• New Housing Association: Transfer of state land to social housing and adjustment of legislation to limit the flow of social housing.
• Energy-efficient renovations: The tax deduction for renovations has been extended until the end of 2025.
• Public-private partnership: Adjusted scheme for construction contracts with a maximum term of 80 years.

The PSOE is awaiting the outcome of the planned parliamentary vote in June 2025.

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