of Frente Amplio has proposed a 10% annual tax on properties held by large owners who fail to offer affordable rents. Unveiled on , the levy targets companies from their first property and individuals with four or more worth over €800,000.
The tax applies if rents exceed the state reference index. Colau argues affordable rates in and must be 30% below current levels. With 13 funds owning 100,000 homes, the plan aims to hit 737 firms and increase housing investment to 1% of GDP.
Frente Amplio estimates the measure could mobilise 213,840 vacant or secondary properties into the market. Furthermore, 272,160 existing rentals could see price reductions as owners seek to avoid the tax, addressing the current housing crisis across Spain.