Nearly 2,500 properties in Spain were purchased by investors from Poland in the first three quarters of 2023. Between July and September alone, they acquired 800 flats and houses on the Iberian Peninsula, consolidating their position in the market, according to the latest figures published by Registradores de España.
Dominated by flats
– Still more than 90% of transactions in the Spanish property market are concluded without mortgage financing. The structure of purchases is 70% flats and 30% detached houses with private pools. Flats are mainly transactions in the price range of €350,000 – €1.5 million. 70 per cent are primary market purchases and 30 per cent are secondary market purchases,” says Agnieszka Kostrzewa, founder of Agnes Inversiones – the largest, oldest and most recognisable Polish real estate agency on the Costa del Sol.
Poles are among the top foreign buyers of Spanish property. Places such as Marbella attract not only investors, but also our compatriots wishing to enjoy more than 320 days of sunshine a year. Increasingly, the purchase of a property with a view to living permanently in Spain is preceded by a long-term rental (e.g. several months).
Poles in the lead again
Q3 2023. Poles once again ranked among the top ten property buyers in Spain. The 800 flats and houses purchased by our compatriots secured a market share of 3.7%, which translated into ninth place. The top three were the British (10.11%), the Germans (7.01%) and the French (6.72%).
Summarising the first three quarters of 2023, Poles have already purchased a total of 2460 properties on the Iberian Peninsula – more than in the same period of 2022, when they bought 2303 properties. Of particular interest is the Costa del Sol, or the famous Andalusian sunshine coast.
According to Registradores de España, in Q3 2023, the share of foreign buyers in the Spanish property market reached a record 15.44%, increasing by 0.5 percentage points compared to the previous quarter. The total number of registered transactions in the Spanish property market, on the other hand, fell slightly, amounting to just over 140,000 from July to September 2023, compared to over 161,000 and close to 152,000 in the periods January to March and April to June, respectively.
The first and second quarters of 2023 were very busy, while the third quarter saw fewer transactions. This is illustrated by statistics for Spain as a whole, indicating a decrease of 10% between Q2 and Q3.
