Poles bought 3,000 in Spain. apartments. And in a year
Only from July to September 2024, our compatriots purchased 1,296 houses and apartments in Spain, which is 30% more than in the previous quarter of 2024 and as much as 62% more than in the same period of 2023. According to data from the Registradores de España, Poles were just behind the podium of foreign investors – in 4th place, with a market share of 5.32% in the third quarter of 2024.
However, this is not the end of records – in 2024, Poles have already purchased 3,101 properties in Spain, 26% more than in the same period of 2023 and almost as much as in the entire last year, which ended with a then record result of 3,118 properties.
In the province of Malaga, which also includes the Costa del Sol, foreign buyers bought every third property. This means its popularity is similar to that of the Balearic Islands and the level is twice as high as the Spanish average. Traditionally, the podium is occupied by: Great Britain, Germany and Morocco, and the Poles – taking 4th place – overtook Italy and France.
Costa del Sol attracts with its sun
Data from the Agnes Inversiones agency show that in the third quarter of 2024, the primary market dominated. The most frequently purchased apartments included apartments with an area of 100 m22 up to 300 m2 at prices from PLN 450,000. up to EUR 4.5 million and detached houses with an area of 250 m22 up to 600 m2costing from EUR 1.5 million to EUR 5 million. However, on the Costa del Sol, there are many transactions involving the purchase of residences for 10 or even 15 million euros.
The specificity of the Spanish market is its high stability, which is confirmed by, among others, Eurostat data. In the second quarter of 2024, compared to the same period in 2023, real estate prices on the Iberian Peninsula increased by 7.9%. At the same time in Poland this increase was as much as 17.7%. The cost of living in Spain is also lower than in other European countries. At the same time, locations such as Marbella provide a very high level of education and medical care.
Over 100 thousand Poles in Spain
The share of Poles in the Spanish real estate market has been growing over the years, from 1.6% in 2019 to nearly 3.6% in 2023. In absolute numbers, this meant 3,118 houses and apartments on the Iberian Peninsula that our compatriots bought in 2023 r. This was influenced by, among others, popularization of remote work after the pandemic, as well as the desire to geographically diversify assets after the aggression against Ukraine in 2022. Last year’s results have already been almost equalized in 2024, so another Polish record in Spain is expected.
The Polish community on the Iberian Peninsula already numbers about 100,000. people. As Agnieszka Marciniak-Kostrzewa emphasizes, this is visible not only in real estate purchase statistics. There are Polish shops and restaurants on the Costa del Sol, the “Hola Polacos” magazine is published, and every year the final of the Great Orchestra of Christmas Charity takes place in Fuengirola, which in 2024 gathered over 1,200 participants.
