6 Dec, 2022 @ 09:15
1 min read

Poles coming up fast in foreign buyers of Spanish property table after being spooked by war in Ukraine

Polish Ultras

Poles have been in a buying frenzy for Spanish property this year in an overheating housing market, thought to be driven by a booming economy and an existential fear of their warmongering Russian neighbours.

Polish buyers have seen a record 2,300 property purchase so far this year, already more than double the entire of 2021.

This brings the Polish share of foreign buyers of Spanish houses to 3.2%, some way behind perennial champion investors the Brits, who are still in the lead at 11.2%.

It means the Poles already outstrip the Americans (1.6%), the Chinese (2.6%), and – ironically – the Russians (2%), with the Swedes in their sights (4.2%), according to stats from the Statistical Information Centre of Notaries in Spain.

But overall, foreign buyers have increased 19% on 2021, helping to drive up prices 7.5% year-on-year.

Barcelona still presides over the most expensive housing market, with a square metre costing €4,352 (up 5.3% on last year), followed by Madrid with €3,851 a square metre (up 71%) and Palma de Mallorca property €3,122 by up a whopping 12%.

Walter Finch

Walter - or Walt to most people - is a former and sometimes still photographer and filmmaker who likes to dig under the surface.
A NCTJ-trained journalist, he came to the Costa del Sol - Gibraltar hotspot from the Daily Mail in 2022 to report on organised crime, corruption, financial fraud and a little bit of whatever is going on.
Got a story? [email protected]

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