Totally agree with you. I was hoping that when the capital gains was equalised between resident & non residents, This disparity of off setting cost would have been looked at.
People, who buy to let, do not do it to have a rental surplus. They do it for capital appreciation. The only people who have rental surplus are the ones who have inherited a property. They of course do not look at the opportunity cost like most Spaniards.
Spanish, Central & regional government has this mentally of extracting what ever they can from the non residents equitable or not !
With so many properties lying empty, poor rent legislation’s and all the government is doing is skating around the subject & is not ready for a major surgery of the whole system.
Sadly, Spain will never attract foreign investments like other countries do until, unless they review/change their thinking in respect of what the investor is looking for and in what kind of environment and frame work.