The price of housing in Spain continues to set historic highs and has become one of the country’s main social and economic problems. The debate on the causes of rising housing prices and possible solutions is gaining strength among experts and talk shows, and the trade unionist Afra Blanco has a solution for this, and it is to “fry” those who speculate with housing with taxes.
During an intervention in the program laSexta Xplicaof The SixthBlanco, launched a forceful and controversial proposal, “we pay taxes to those who are buying homes to invest and to speculate.” Her statements put the focus on those who, according to her, monopolize for-profit housingthus contributing to raising prices.
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Blanco warned that access to housing has become a luxury for a large part of the population, especially for young workers. In his words, “we are generating a Spain that has to moonlight in order to guarantee the right to a roof over our heads, therefore, a right to be a full citizen.”
Housing to live, not to speculate
The union member considers that the underlying problem is not only in the lack of supply, but in the speculative use made of the real estate stock. For this reason, he defended tougher tax measures against those who buy real estate solely to obtain economic benefits: “If we believe that there is actually not enough housing, we blame taxes on those who are hoarding the housing, we blame taxes on those who are buying homes to invest,” he insisted.
For Blanco, housing should be a right and not an investment instrument, and he criticized the fact that properties are used for tourism purposes while thousands of citizens cannot access affordable rentals.
“If homes are for living, for workers, I don’t understand why we have to use them for tourists, when there are no homes for workers”
He also questioned the purchase of second homes in stressed areas of the market, such as the center of Madrid. “I also don’t really understand why someone is buying a second home in Lavapiés if it is not to invest and, therefore, to speculate,” he said.
As a proposal, Afra Blanco proposed reducing the Property Transfer Tax (ITP) to 0% for the purchase of the first home, regardless of the age of the buyer. However, he was blunt in defending a fiscal tightening for large holders and investors: “Those who are dedicated to accumulating and speculating, which, by the way, speculators are not businessmen, let’s pay them taxes,” he concluded.