From July to September 2024, our fellow Polish citizens purchased 1,296 homes and apartments in Spain, marking a 30% increase over the previous quarter in 2024, and a massive 62% increase over the same interval in 2023. According to data from Registradores de España, Poles ranked fourth in the number of properties purchased by foreign investors, with a 5.32% market share in the third quarter of 2024. This trend doesn’t seem to be slowing down – 3101 properties were snapped up by Poles in Spain in 2024, a 26% increase compared to the same period in 2023, and almost equal to the whole of the previous year, where they had also set a record with 3118 properties.
In the province of Malaga, which also includes Costa del Sol, every third property was purchased by a foreign buyer. This hints at popularity levels similar to the Balearic Islands and twice the national Spanish average. The countries leading the ranking are traditionally the United Kingdom, Germany and Morocco, with Poland in 4th place, overtaking Italy and France.
Costa del Sol Attracts with Sunshine
“Marbella and Costa del Sol are dream living areas, as shown not only by market data but also by growing interest from our fellow Poles. Post-holiday months are the second period during the year (after January), when the market offers more secondary market houses and apartments for sale. The primary market is also quite popular, with investments in top locations quickly gaining in value,” says Agnieszka Marciniak-Kostrzewa, the founder of Agnes Inversiones.
Accoriding to Agnes Inversiones, in the third quarter of 2024, the primary market dominated. Apartments ranging from 100 m2 to 300 m2 priced between 450 thousand and 4.5 million euros were among the most frequently purchased; as well as stand-alone houses ranging from 250 m2 to 600 m2, costing from 1.5 million to 5 million euros. However, in Costa del Sol, there’s no lack of purchase transactions for residences costing 10 or even 15 million euros.
A distinct feature of the Spanish market is high stability, confirmed by Eurostat data. In the second quarter of 2024, compared to the same period in 2023, property prices on the Iberian Peninsula increased by 7.9%. During the same period in Poland, the increase was a substantial 17.7%. Living costs in Spain are also lower than in other European countries. At the same time, locations such as Marbella offer a very high standard of education and medical care.
Over 100,000 Poles in Spain
The Polish share 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, it meant that 3,118 houses and apartments on the Iberian Peninsula were bought by our fellow Poles in 2023. This was influenced by the popularization of remote work after the pandemic and the desire for geographic diversification of assets after the aggression in Ukraine in 2022. The results from last year were almost equalled in 2024, indicating another Polish record in Spain.
The Polish community in Spain has already reached approximately 100,000 people. As Agnieszka Marciniak-Kostrzewa emphasizes, this is visible not only in property purchase statistics. Polish shops and restaurants operate on the Costa del Sol, the magazine “Hola Polacos” is published, and each year, the finale of the Great Orchestra of Christmas Charity takes place in Fuengirola, attracting over 1200 participants in 2024.
Andalusia, Costa del Sol, and Marbella are unique points on the map of Spain, which is continuously breaking tourism records year after year. However, the sun coast lives at its own pace, not only during the high season. The Costa del Sol operates nearly all year round, thanks to the sun shining over 320 days, excellent conditions for golf or proximity to the Sierra Nevada mountains, where the skiing season begins already in November.
Source: https://managerplus.pl/polacy-tuz-za-podium-na-hiszpanskim-rynku-nieruchomosci-w-2024-zakupili-ich-juz-ponad-3-tysiace-57531
