The Sánchez Effect: How Political Rhetoric Alone Drove a 17% Foreign Buyer Exodus from Spain
Spain proved in 2025 that you do not need to ban foreign property buyers to drive them away — you just need to threaten convincingly enough. Prime Minister Pedro Sánchez's campaign against non-EU buyers, complete with a floated 100% purchase tax and outright ban proposals, triggered a 17% year-on-year