The controversial 90 day rule is costing Spain "millions" in lost property sales as non-resident Britons think twice about buying a home in Spain. Under present legislation Britons can only spend 180 days a year in Spain (non-residents) in two blocks of two (90 days) and it is costing the real estate sector heavily. It is not only the real estate sector which is losing money but the government as well in lost property taxes.
"The British are the biggest foreign property buyers in Spain and it is outrageous that they can only enjoy their holiday home for 180 days a year," a leading Spanish estate agent said. British holiday home owners contribute heavily to the Spanish economy, and in some cases, especially on the mainland, they keep bars and restaurant open during the low months of the year.
The Spanish government has said that they oppose the 90 day rule and unlike France they have taken their opposition to the European Union. It had appeared that France was set to scrap the 90 day ruling and there was even a vote in the Senate but then a French court declared the move "unconstitutional".
Home sales to non-residents (including Britons) have fallen with some blaming this state of affairs on the 90 day rule. "The British are the most important property market after the Spanish, in the country. At the moment they need help...."