The government is revisiting its plan to end Spain’s golden visa program, the mechanism that previously allowed non‑citizens to obtain residency by investing in property valued above half a million euros. After an earlier attempt to remove it stalled because the amendment would have been tucked into the Housing Law and did not gain enough support in Congress, the Administration has chosen a different route this time, pursuing the reform as an amendment within the Public Service Law. The measure is set to go before the lower house on Wednesday, with the cabinet aiming to terminate the golden visa once and for all.
News outlets including El País, later corroborated by El Periódico de España and ActivOS, a Prensa Ibérica business vertical, indicate that all forms of the golden visa will be scrapped. The scope is not limited to visas tied to residential purchases but also includes those granted for investments in a business venture. The plan to eliminate these visas will be addressed through a separate regulation that follows a routine administrative path and does not hinge on broader political debates.
On April 8, Prime Minister Pedro Sánchez signaled the intention to repeal the golden visa, a policy in force since 2013 under Mariano Rajoy’s first term. The government presented the move as part of a broader pledge to treat housing as a right rather than a speculative asset, a message echoed in official announcements accompanying the reform.
Statistics from the Ministry of Housing and Urban Agenda released in May show that from 2016 through January 2024, 10,528 golden visas were granted to foreigners who invested in Spain. In recent years, especially 2022 and 2023, the number of property purchases linked to residency permissions surpassed 5,000. In major cities like Marbella and Barcelona, housing purchases tied to investments represented as much as 7.1% and 5.3% of total property transactions in a single year, according to the housing ministry under the leadership of Isabel Rodríguez.
Alongside the amendment in the Public Service Law, the government is reportedly drafting changes to the Horizontal Property Law to regulate tourist-use apartments. Currently, prohibiting such properties requires the consent of three‑fifths of building residents. The forthcoming reform would require an explicit agreement to authorize, limit, condition, or prohibit the operation of a tourist rental unit, a development confirmed by El País as part of the broader reform agenda.
Civic and housing policy shifts tied to how property is used
The evolving policy stance signals a broader rethink of how investment-driven residency interacts with the housing market and urban planning. By pursuing amendments in separate legal tracks, the government aims to streamline the path toward a clear, unified rule on residency visas and tighten controls on property use in neighborhoods dominated by tourism. Analysts suggest this dual approach may influence international perceptions of Spain as an investment destination and could affect the timing and geography of foreign real estate activity in the coming years.
The move also reflects ongoing debates about foreign ownership, housing affordability, and how multi-unit buildings hosting tourist units should be governed. Local officials and residents have shown renewed interest in balancing openness to international investment with preserving neighborhood character and residents’ rights. As the legislative process unfolds, observers will watch how the government negotiates the pace of reform with the interests of property owners, developers, and local communities in mind.
Overall, the proposed repeal aims to remove a visa scheme that linked residence rights to property or business investments. Proponents argue that ending the golden visa will reduce potential market distortions and help make housing more accessible to residents. Opponents warn about possible economic consequences, including effects on international wealth inflows and urban development plans. With the reform moving through parliamentary channels and adjacent regulatory proposals under consideration, the coming months are expected to reveal how Spain intends to recalibrate its immigration, housing, and urban-policy framework in ways that align with broader social goals.