Spain's Prime Minister Pedro Sánchez said too many people were buying Spanish homes as an investment rather than to live in.

Spain is planning to impose a tax of up to 100% on the value of properties bought by non-residents from countries outside the EU, such as the UK. Announcing the move, Prime Minister Pedro Sánchez said the "unprecedented" measure was necessary to meet the country's housing emergency.

In recent months, authorities have come under growing pressure from residents of tourist hotspots, which have seen large-scale protests over the impact of overtourism and soaring housing costs.