MADRID (Reuters) - Spanish Prime Minister Pedro Sanchez said he would propose to ban purchasers from outside the European Union from buying properties, as the government seeks to curb rising housing prices, which have become an increasing source of friction.

Spanish Prime Minster, Pedro Sánchez, announced Sunday a series of government reforms and policy proposals, including harsh restrictions on non-EU residents purchasing property. The measures aim at

Spain’s Prime Minister, Pedro Sánchez, has intensified his stance against foreign investors in the Spanish housing market, proposing a complete ban on non-resident property buyers from outside the European Union.

Spanish Prime Minister Pedro Sanchez plans to restrict property purchases by non-EU buyers as a measure to regulate housing prices. The proposal includes potential bans and tax increases on foreign acquisitions to combat speculation.

Spain’s government will seek to limit the number of houses sold to foreigners by significantly raising the taxes they pay.

Spanish Prime Minister Pedro Sanchez will propose a ban on people from outside the European Union buying homes in the country, part of a broader attempt to confront a housing shortage.