Florida property boom predicted as Spain’s proposed tax hikes deter British buyers

Spain’s proposed 100% property tax on non-EU buyers could send British investors flocking to Florida. Discover why experts predict a surge in demand for Florida’s tax-efficient real estate market.

Spanish prime minister Pedro Sanchez has unveiled plans for a tax of up to 100 per cent on properties bought by non-EU residents, and while the legislation is still uncertain, real estate experts warn it could prompt many British buyers to look elsewhere.

Because the UK is no longer in the European Union, Britons are directly affected by the proposal.

The tax threat has galvanised interest in alternative destinations, with Florida predicted to be the biggest beneficiary. Industry figures say the US state’s lower property taxes, absence of inheritance or estate levies, and lack of a state income tax make it attractive to buyers concerned about Spain’s proposed changes.

Brown, chief executive of Florida-based estate agency ABI Group, believes the combination of a “more favourable tax environment” and “stable house prices” could spur a fresh wave of British investment in Florida property. The year-round sunshine and established short-term rental market – popular with holidaymakers – are additional draws.

“Spain has long been a favourite destination for British buyers,” Brown said, “but if these measures go through, many will see Florida as a more secure, tax-efficient place to own property.”

Sanchez faces a slim parliamentary majority, and the proposed tax still needs to clear legislative hurdles. However, the uncertainty alone has led to renewed focus on the Sunshine State. Analysts suggest many prospective British buyers may switch their plans if Spain’s political climate remains volatile and new taxes loom on the horizon.