According to Prian, so far it is only about residential rentals. All payments for rented accommodation must be made through bank transfers or other traceable mechanisms.
The purpose of the bill is to fight tax fraud of landlords, increase transparency of the rental market, and simplify the control of real estate income.
Banning cash is quite an expected project – Spain has been increasing pressure on the rental market for several years. In addition, a number of initiatives have been launched in this country, with different chances of success.
What changes are in store for the Spanish market
Among other things, it is proposed to limit the purchase of homes in the Canaries, which is considered unlikely. In the process, a war against Airbnb, dozens of listings have already been removed from the platform. Also, the authorities propose to ban the purchase of housing for foreigners. Experts consider this a populist initiative. There is a project to ban renting out rooms expensively. It is already being implemented, but it has not yet had an impact on the housing crisis.
As for taxation, it is proposed to introduce 25% on the resale of housing. In addition, the idea of introducing a 100% tax for foreigners is being promoted.
