Spain proposes 100% tax on property purchases for non-EU buyers.
Spain is planning to impose a 100 per cent tax on real estate purchases for buyers from non-EU countries such as the UK in a bid to improve housing affordability by deterring foreign purchases. Prime Minister Pedro Sánchez announced the plan for the punitive property tax, which would apply to non-EU citizens who are not residents of the bloc, as part of a raft of measures aimed at tackling a “grave” housing crisis. Spain is one of many European countries where public anger is mounting over the difficulty of finding affordable housing to buy or rent as property prices soar and new construction lags far behind demand. Source: FT
The value of a home in America since 1924.
Real estate is one way to protect your wealth against money debasement Source chart: re-venture
BREAKING 🚨: China
The Chinese Property Market has seen a total loss of $18 Trillion over the past 3 years, surpassing the losses suffered by the U.S. during the Global Financial Crisis. Source: Barchart
In the US, buying a home in 2024 costs 42% more than renting one
Source: John Burns Research
What has happened in Poland is nothing short of an economic miracle. Hard work and entrepreneurial spirit pay off.
30 years ago Poles were emigrating due to economic reasons. Today many Poles buy real estate in places like Marbella. Source: Michel A.Arouet
‘Renting is nothing short of brutal. Rents are rising at an astronomical and unsustainable rate.’
Rents in London increased by 11.6% in the 12 months to November 2024. Source: FT
THE ISSUE WITH US HOUSING AFFORDABILITY IN ONE CHART...
Annual income needed to buy a house in the US hit a whopping $109,564, an all-time high. This has DOUBLED in just 4 years... At the same time, median income earned is just $83,431. The difference between the two has NEVER been greater. Source: Global Markets Investor
US rent prices are falling:
Median asking rent in the US declined 0.7% year-over-year in November to $1,595, the lowest since March 2022. 1-bedroom apartment rent prices fell 1.7%, to $1,450, reaching the lowest level in 3 years. 2-bedroom apartment rent prices declined 1.1%, to $1,671, to the lowest in 9 months. Furthermore, the median asking rent price per square foot dropped 2.2% to $1.79, the lowest since December 2021. This marks the 19th consecutive monthly decrease. Rent prices are cooling off. Source: The Kobeissi Letter
