According to data from Registradores de España, throughout 2024, Poles purchased over 4,000 properties in Spain. This places them at the forefront of nationalities most actively investing in this market. What drives such significant interest? Who is buying property in Spain? What should be considered when planning to buy an apartment or house on the Iberian Peninsula? Renata Lorens – co-owner of International Investment Marbella, the oldest Polish real estate agency on the Costa del Sol – answers these and other questions.
What Attracts Investors from Poland to the Iberian Peninsula?
The southeastern coast of Spain, known as the Costa del Sol, attracts primarily due to its weather. Over 300 sunny days a year is a compelling prospect, especially for those wishing to escape the capricious Polish climate. Even in winter, temperatures here are exceptionally pleasant, making the region attractive year-round. In summer, the Costa del Sol draws tourists seeking sun and relaxation. In winter, it transforms into the European capital of golf. It’s no coincidence that the coast earned the nickname Costa del Golf – it’s a true paradise for enthusiasts of this sport, offering numerous golf courses that attract players from all over the world.
Tourist appeal is another strong asset of this region. There are plenty of places that impress with their diversity and atmosphere. Besides well-known and vibrant cities, led by Malaga and Marbella, it’s also worth visiting picturesque spots like Estepona, Mijas Pueblo, Frigiliana, Ronda, Ojén, or Casares. Each of them has something unique – from characteristic white architecture to historic alleys and breathtaking views. Slightly further afield, but still relatively close, are Gibraltar, Cordoba, Seville, and Granada. In the latter, just a 2-hour drive from Marbella, one can ski and snowboard.
The region’s popularity is further enhanced by modern infrastructure, spearheaded by Malaga International Airport. This dynamically developing communication hub offers not only numerous connections with Poland but also intercontinental flights, including to the USA.
How Do Spaniards View the Influx of Foreigners?
The Costa del Sol is a true mosaic of cultures, where foreigners from all over the world find their place to live. Spaniards are known for their openness and warmth. Their positive attitude stems from a deeply rooted approach to life that emphasizes interpersonal relationships, community, and mutual respect. It is precisely this openness that makes expats quickly feel at home, integrating with local communities and creating a harmonious symbiosis together.
What is Life Like in Spain?
We’ve lived here for over 23 years and know it’s our place on earth. The unique climate, the sun, but also the local approach to life do their part. Spaniards are a very cheerful, warm nation. They have a unique ability to enjoy the little things and seize every moment. It’s also fantastic that they manage to balance professional and personal life, prioritizing the now-famous work-life balance. At first, we had to get used to it – as is typical in the south, some matters, due to this approach, can drag on a bit longer [laughs]. Today, it’s normal for us.
Poles are increasingly considering investing in this market. How does this look from your perspective?
The interest is indeed huge. We noticed the biggest boom after the outbreak of the war in Ukraine, when we received calls from clients from Poland practically overnight. They were looking for – as they put it – a “safe house”, a place that would give them a sense of security and stability. Importantly, this interest remains at a high level.
Are Poles buying apartments for themselves? Or is there also an investment approach?
We observe two main groups of clients from Poland. The first group consists of individuals seeking property for their own needs – a place to live or spend holidays. The second, numerically larger group, are those planning to buy an apartment or house with the intention of renting it out and as a long-term capital investment.
Is investing in Spanish real estate profitable?
Definitely yes. The rate of return can range from 5% to 10%, depending on the location, finishing standard, or rental model. Additionally, the average increase in property value in the Costa del Sol region is approximately 10% annually.
What budget should one have to purchase a property for rental purposes?
For a property in Marbella and its surroundings, attractive for rental, one needs to budget a minimum of 300,000-350,000 euros. For this price, you can get a living room with two bedrooms and a terrace. These costs are comparable to, or even lower than, those found in major agglomerations in Poland today.
It’s worth noting that for properties from the primary market in Spain, we are talking about finished interiors. Buyers then only need to furnish them. New developments also stand out with extensive amenities – private gyms, spa areas, swimming pools, coworking spaces, and 24-hour security are almost standard today, ensuring residents the highest level of comfort and safety.
How much does one need to spend on premium properties?
Here, budgets start from around 1 million euros.
Thinking about buying property in Spain? Interested in the Costa del Sol region? Check out our offer: https://www.iimarbella.com.