Market conditions have led to a significant increase in interest in domestic as well as foreign property investments. An interesting development has occurred in the Spanish market, which has seen an increase in the number of purchases by foreigners.
Poles in the top ten most frequently shopping nations
Property in Spain is generating interest among Iberian investors and enthusiasts from all over the world. Observations made by Agnes Inversiones and friendly real estate agencies in Spain have been confirmed by statistics presented by the Association of Secretaries of Land, Business and Movable Property Registers (Colegio de Registradores) as part of the quarterly summary of Estadistica Registral Inmobiliaria. The data presented shows that in the third quarter of 2021, the share of foreigners in the total number of property purchases in Spain exceeded 10%!
There has been a significant change in the list of nations most likely to buy property on the Costa del Sol and in other regions of the country. Until now, it was the British who led all the rankings, but according to the latest information, the position of leader has been taken over by Germans, with more than 10 per cent of all property purchases in Spain made by foreigners. Thus, for the first time in the 21st century, they dethroned the British, whose total share in the third quarter of 2021 was 9.89%, putting them in second place. They were followed by the French (7.82%), Moroccans (6.54%) and Belgians (5.62%).
Poles ranked 10th among all nations that purchased property in Spain between July and September 2021, with 2.23%. This represents an increase of more than 0.5% in ‘Polish’ transactions compared to the second quarter and 0.7% compared to the first quarter of this year.
Costa del Sol attracts Poles
The year 2021, which is coming to an end, stands out for the significant increase in interest in real estate on the Costa del Sol on the part of Poles. The aftermath of the pandemic and the lessons learnt from the changes that have taken place in everyday life have led many of our compatriots to look for an alternative place to live and invest their accumulated capital.
In the past months, we have not only seen a greater interest in property in Spain, but also an evolution in the purchasing parameters guiding our compatriots. Significant changes have occurred especially in the value of planned and carried out purchases. Up to now, the greatest interest has been in houses and flats, with prices ranging from €500,000 to €2 million, and transactions of around €3 million were isolated events throughout the year. This has changed significantly – in 2021 alone, the number of transactions exceeding 3 million has increased several times compared to past years.
The available data indicate that investment in luxury properties in Spain has become an interesting alternative to investment in domestic real estate for Poles. The attractiveness of the Costa del Sol, which successfully attracts tourists from all over the world, as well as the price competitiveness of Spanish real estate, make the purchase of a luxury flat in this region of the world (in relatively close proximity to Poland) a reasonable step – allowing for the diversification of one’s investment portfolio.
If you would like more information on the Spanish property market or are looking for an attractive offer of a house or flat on the Costa del Sol, please do not hesitate to contact us – contact@agnesinversiones.com. We will be happy to share our knowledge and experience with you and discuss the possibilities of a possible collaboration on an investment in real estate – either for your own use or for rent.
