Spain is proposing to tax Brits and other non-EU citizens, a 100% levy on the value of property purchases. Currently there is a tax of between 8% and 11.5%, but a 100% tax would likely deter all but the wealthiest investors. The move by the populist Spanish government could prove to be a long term own goal however, as it would likely force wealthy retirees to locate elsewhere, along with their money. Anyone wanting to sell, particular in coastal locations, may see a depreciation on their property values as it would dissuade most non-EU buyers. In 2023, even post-Brexit, Brits bought over 12,000 homes on Spain.

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