The Swedish market for homes in Spain.
Data and analysis of the Swedish 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 Sweden are active in the local real estate market.
Welcome this report page analysing the Swedish demand for homes in Spain. Here, you’ll find detailed half-year and annual reports that explore the dynamics of Swedish buyers in the Spanish property market. Whether you’re a real estate professional, investor, or simply interested in understanding how Swedish interest influences the Spanish housing market, these insights provide invaluable context and data.
Our periodic reports are designed to answer key questions about this mid-sized but important foreign market, including:
- How many Spanish property transactions involve Swedish buyers?
- What is the year-on-year change in Swedish buyer activity?
- What is the breakdown of Swedish buyers by residency type (expats versus non-residents)?
- How much do Swedish buyers typically spend on properties in Spain?
- How does the Swedish market compare to other key foreign buyer markets in Spain?
As Sweden represents a mid-sized segment of foreign buyers in Spain, this research is especially valuable for anyone looking to navigate the complexities of the Spanish property market. Whether you’re a seller targeting Swedish clients or an investor assessing market trends, these reports offer clarity and actionable insights.
Stay tuned as we continuously update this page with fresh data and in-depth analysis to keep you informed about the evolving trends in the Swedish-Spanish property connection.
2024 H1
Swedish buyers in the Spanish property market: H1 2024 snapshot
The first half of 2024 has offered a nuanced picture of Swedish demand for Spanish properties, highlighting both stability and ongoing challenges. This article provides a detailed analysis of key trends and developments within this segment, supported by data visualised in accompanying charts.
Total sales and historical context
Swedish buyers accounted for 1,638 property transactions in Spain during H1 2024. This figure represents a marginal year-on-year increase of 0.6% (Fig. 1), suggesting steady demand despite broader economic headwinds. However, sales remained 2.7% below the ten-year average, reflecting a slight decline in long-term activity levels.
Residency status breakdown
Breaking down the figures further, 1,390 Swedish buyers were non-residents, purchasing properties as second homes or investments, while 248 were expats living in Spain (Fig. 2). Non-resident purchases grew by 0.65% compared to H1 2023 but lagged the ten-year average by 22.4%. Conversely, purchases by expats grew by 0.4% year-on-year, but like the non-resident segment, remained 2.7% below the ten-year average.
Swedish sales index
To provide further historical context, a ten-year sales index illustrates the trajectory of Swedish purchases (Fig. 3). This index benchmarks H1 2014 at 100 and tracks subsequent changes. The overall sales index for Swedish buyers dropped to 89.7, reflecting a long-term decline in total transactions.
The non-resident index fell more significantly, to 86.8, indicating a sharper drop in purchases from this group. In contrast, the expat index rose to 109.7, highlighting a modest increase in activity among Swedes living in Spain over the decade. For readers unfamiliar with indices, these figures show how activity has evolved relative to the baseline year: values above 100 indicate growth, while values below 100 signal decline.
Market share and spending patterns
Swedish buyers’ share of the total foreign property market in Spain stood at 1.18% in H1 2024, slightly down from 1.19% in the same period in 2023 (Fig. 4). Meanwhile, the average spending per square metre reached €3,330, a robust 9.7% increase year-on-year. This growth may reflect Swedish buyers’ preference for higher-value properties despite economic challenges.
Comparing Swedish demand with other markets
To contextualise Sweden’s performance, additional charts compare its demand with other foreign markets. These visualisations highlight which nationalities are driving growth, changes in year-on-year activity, and the overall market share distribution among foreign buyers. This comparison underscores Sweden’s position as a mid-sized player within Spain’s diverse foreign buyer landscape.
Economic drivers influencing demand
Several economic factors shaped Swedish demand for Spanish properties in H1 2024:
- Economic challenges and recovery prospects: Sweden’s economy faced a mild recession in 2023, with growth remaining subdued at 0.2% in 2024. High inflation, tighter financial conditions, and weak external demand all played a role. However, signs of stabilisation and expected GDP growth in 2025-2026 could support future demand.
- Currency volatility: The Swedish Krona has experienced volatility, with its weakness partly driven by the Riksbank’s negative interest rate policy. While this made overseas purchases more expensive, expectations of a strengthening Krona by late 2024 may encourage renewed interest.
- Mixed sentiment: Rising unemployment and low consumer confidence posed challenges, but falling inflation and interest rates have sparked cautious optimism among Swedish consumers. The interconnectedness of Sweden’s economy with Germany, which remains weak, has also influenced sentiment.
Conclusion
In summary, H1 2024 reflects a stabilisation in Swedish demand for Spanish properties, underpinned by moderate growth among expats and sustained interest from non-residents. However, long-term challenges, including economic uncertainty and currency volatility at home, continue to temper activity levels.
