The Polish market for residential real estate in Spain
Data and analysis of the Polish market for Spanish property in periodic reports highlighting key trends of interest to anyone looking to buy or sell property in areas of Spain where home buyers from Poland are active in the local real estate market.
Polish demand for property in Spain has surged in recent years, making Polish buyers one of the fastest-growing segments in the Spanish residential real estate market. This report offers essential insights for anyone invested in understanding this trend—whether you’re a property buyer, seller, developer, real estate agent, investor, or market analyst. As Polish nationals increasingly choose Spain for both holiday homes and permanent relocation, the importance of this segment to the Spanish property market is growing.
For individuals and businesses tracking developments in the Spanish property sector, especially those with a focus on foreign demand, this report provides valuable, data-driven insights into the Polish buyer demographic. By examining key trends and comparisons, it aims to offer a comprehensive understanding of the role Polish buyers play in the broader international property market in Spain.
What to expect in this report:
- How many Polish buyers are purchasing property in Spain: A look at total numbers and year-on-year trends.
- Residency type breakdown: Insights into the proportion of expats versus non-residents.
- Spending trends: How much Polish buyers are investing in Spanish properties, including average property prices.
- Comparative analysis: How the Polish market stacks up against other major foreign property markets in Spain.
Whether you’re researching for professional purposes or exploring this topic as an enthusiast, this report is designed to provide clear answers to key questions. By leveraging recent data and expert analysis, it sheds light on the factors driving this demand and its implications for the future of Spain’s property market.
2024 H1
Polish buyers in the Spanish property market: H1 2024 snapshot
Polish buyers have emerged as a key segment in the Spanish property market, driven by geopolitical events and economic stability in Poland. This snapshot looks at their purchases during the first half of 2024, using the latest data to highlight key trends and developments.
Total Polish buyer transactions
In H1 2024, Polish buyers accounted for 3,105 property transactions in Spain, marking a year-on-year increase of 28.5%. This growth is particularly notable when compared to the ten-year average, which reflects an increase of 119.6% (Fig. 1). These figures illustrate a substantial surge in demand, reinforcing the importance of Polish buyers in the foreign property market.
Foreign market share (FMS)
Polish buyers accounted for 2.24% of all foreign transactions in H1 2024, up from 1.77% in the same period in 2023 (Fig. 2). This growing market share reflects their rising prominence among foreign buyers in Spain.
Ten-year sales index analysis
The ten-year sales index provides an insightful perspective on market growth. This index, with a baseline of 100, shows total Polish buyer transactions increasing to 489.7 by H1 2024. Expats reached 222.8, while non-residents soared to 820.8 (Fig. 3).
An index value of 489.7 means that overall sales have increased nearly fivefold compared to the base period. Similarly, non-resident purchases have risen over eightfold, indicating explosive growth in this segment. These figures highlight the long-term upward trend, which has accelerated further since Russia’s invasion of Ukraine. This geopolitical shift has likely spurred greater interest in securing assets abroad, including Spanish properties.
Residency status breakdown
The majority of Polish buyers were non-residents (2,323), purchasing properties for second homes or investment purposes. Expats living in Spain accounted for 782 transactions (Fig. 1). Year-on-year, expat purchases grew by 19.6%, while non-resident transactions increased by 31.8%, both significantly outpacing their respective ten-year averages.
This breakdown underscores a dual trend: the growing allure of Spain as a destination for permanent relocation and the enduring appeal of Spanish properties as investment opportunities.
Average spending per square metre
On average, Polish buyers spent €2,543 per square metre on Spanish property . This figure is 13% above the average spent by foreigners on property in Spain, aligning with trends of increasing affluence and aspirational spending among Polish nationals.
Comparisons with other markets
Further context is provided by comparing Polish buyers with other foreign markets in Spain. Charts illustrating total sales, year-on-year growth, and market share by nationality offer a comparative view, showing where Polish buyers stand among Spain’s most significant foreign demographics.
Factors driving demand
Several key factors explain the rise in Polish demand for Spanish properties during this period:
- Geopolitical concerns: The war in Ukraine and perceived threats from Russia have encouraged Polish buyers to seek safe havens and diversify their investments internationally.
- Economic strength: A robust Polish economy and growing affluence have enabled more buyers to afford luxury purchases, such as second homes in Spain.
Conclusion
The H1 2024 data paints a clear picture of the Polish segment as one of the most dynamic and rapidly growing in the Spanish property market. With robust year-on-year growth, significant increases in spending, and a notable contribution to foreign market share, Polish buyers are proving to be a critical demographic worth watching. As geopolitical and economic factors continue to evolve, their impact on the Spanish property market is likely to remain significant.
