Going back to nickstrong’s comment, I think that he could be right and if and when this law is passed it could give the buyers an advantage, provided they are clued-up on Spanish Law and property values.

Conversely could it have a detrimental effect with the more unscrupulous expats still setting their own valuations as if the CGT was still at the same level, thereby making a bit more out of it?
It could even result in the resale market being flooded with properties by sellers who have been reluctant to sell under the current tax regime.

What do others think? Is it a good or bad move? Will it kill-off the Black Money issues?