Spain is discussing the possibility of ending or limiting the controversial golden visa scheme

** Spain may end its so-called "golden visa" program, which grants the right to permanent residency to foreigners investing in real estate in the country, said the leader of the left-wing party negotiating this issue with the government.

Inigo Errejon told reporters on Monday that his Mas Pais party had reached a tentative agreement with the Social Security Ministry to end the program, which allows buyers of properties worth at least 500,000 euros ($551,650) and their families to obtain a three-year residency permit.

"Spanish citizenship cannot be bought," Errejon said, adding that the golden visas have led to "gross" increases in housing prices and forced locals out of their neighborhoods without creating new jobs.

The ministry has not confirmed a plan to end the program.

Earlier on Monday, El Pais newspaper reported that Spain was considering stricter requirements for golden visa applications.

The European Commission has called on EU countries to end programs that allow investors to obtain citizenship and tighten checks on residence permits, calling them a security and money-laundering threat.

Neighboring Portugal said it would end a similar program in March.

Spain issued nearly 5,000 permits between the launch of the golden visa program in 2013 and last November, and Chinese investors topped the list, government data show.

Errejon said the visas represent "hidden privileges" for millionaires, turning Spain into "a kind of colony, often attracting dubious money."