Between April and June 2024, Poles purchased as many as 1005 properties in Spain, exactly 205 more than in the previous quarter (an increase of more than 25%) and 115 more (an increase of nearly 13%) than in the same period of 2023. In total, in the first half of 2024, our compatriots have already purchased 1805 houses and flats on the Iberian Peninsula, 145 more (an increase of nearly 9%) than in the first half of 2023.
A record-breaking next quarter and full year?
According to data from the Registradores de España, Poles once again rank among the top ten foreign investors – with a market share of a record 4.63% in Q2 2024, the best ever. This compares to 3.92% in the same period in 2023 and an average of 3.57% for the whole of last year – a steady upward trend is therefore evident.
– From the perspective of the past 18 years, the perception of Spanish real estate by Poles has completely changed. Today, there is record interest, particularly evident after the pandemic and the aggression against Ukraine in 2022, which motivates our compatriots to geographically diversify their wealth. We also have an increasing number of clients who simply want to enjoy the Mediterranean lifestyle by moving permanently to Spain,” says Agnieszka Marciniak-Kostrzewa, founder of Agnes Inversiones – the largest, oldest and most recognisable Polish real estate agency on the Costa del Sol, which this year celebrates 18 years of presence on the Spanish market.
Sunshine coast attracts Poles
Data from Agnes Inversiones shows that the significant predominance of the primary market continued in Q2 2024, which accounted for as much as 75% of property purchases during this period. 70% of sales were flats (between 100 m2 and 300 m2) and 30% were detached houses (between 250 m2 and 600 m2). Prices for flats ranged from €450,000 to €4.5 million, and for houses ranged from €1.5 million to €5 million.
Spain’s Costa del Sol, or sunshine coast, takes its name from the fact that the sun shines here more than 320 days a year. This property market attracts Poles with its stability and the prices of houses and flats. Suffice it to mention that, according to Eurostat, property prices on the Iberian Peninsula increased by 6.4 per cent in Q1 2024 (compared to Q1 2023), while at that time in Poland they recorded an increase of as much as 18 per cent. It is increasingly being said that the Spanish coast is much more attractive in this respect than the popular tourist locations on the Vistula.
Spain and its destinations along the Costa del Sol, or sunshine coast, are pointed out:
- as one of the safest locations to invest in real estate(as ranked by IQI Global),
- at the top of the luxury real estate markets(in the annual “The Wealth Report 2024” published by Knight Frank),
- as a ‘European Best Destination’(an accolade for Marbella).
