The balance of 2024 performed by Polish investors is 4213 houses and flats purchased in Spain, according to the latest data from the Registradores de España. This represents a result more than 35% higher than that achieved in the hitherto record-breaking year 2023. – when Poles purchased 3118 properties on the Iberian Peninsula.
4-fold increase in 5 years
Last year, Poles bought up to four times as many properties in Spain as in 2019, the year before the pandemic. At the same time, this gave our compatriots an average market share (among foreign investors) of 4.53% for the whole of 2024.
In Q4 2024, Poles ranked ninth among foreign investors. The period from October to December accounted for 1112 property purchases in Spain by our compatriots. This was therefore slightly less (by 14%) than in the previous quarter, but at the same time almost 70% more than in Q4 2023.
If we make a comparison in the number of notarised purchase deeds signed, transactions from the primary market dominated in 2024. On the other hand, if we compare the value of purchases, the secondary market significantly dominates. Indeed, refurbished classic Spanish villas with more modern interiors are finding takers. In Marbella and the Costa del Sol, flats of 100-300 m2, costing between €450,000 and €4.5 million, and detached houses of 250-600 m2, priced between €1.5 million and €5 million, are the most popular.
See also:
100% tax for non-EU buyers? We explain what will change in the Spanish property market
Poles bought a record 4,200 properties in Spain [MARKET ANALYSIS]
Will Poles gain from the new legislation?
Everything indicates that this is not the last word from Polish investors on the Iberian Peninsula. There is a growing interest in houses and flats on the Costa del Sol and, in addition, there are changes in regulations being introduced and announced to limit the market share of buyers from outside the European Union. This is a great opportunity for Poles who want to find their dream property in Spain.
These include a proposal for a 100 per cent tax on property purchases in Spain for non-EU investors. Its introduction would primarily hit the British, who have long led the ranking of foreign buyers of houses and flats, as well as the Americans, who are increasing their market share. Poles, on the other hand, would not be affected by this restriction, just as they will not be affected by the withdrawal of the ‘golden visa’ in force from May 2025. This is a scheme that allows non-EU citizens to obtain residency in Spain in exchange for making a significant capital investment, including the purchase of a property worth more than €500,000.
The changes also apply to tourist licences, i.e. residential rental permits. The aim is to restrict short-term rentals – this measure is already being introduced by Malaga and Valencia, among others, and more cities are planning it. It is worth remembering that each of the autonomous communities in Spain can pursue its own housing policy and control the related taxes. As Agnieszka Marciniak-Kostrzewa points out, this is the reason why such attractive regulations are in place in Andalusia – for example, a 100% property tax relief on owners of second homes in Spain.
