“The popularity of Spanish real estate is not decreasing among Poles,” write Pekao analysts who published the latest data from Spain. Poles bought by 9%. more Spanish apartments in the first half of this yearthan in the same period of the previous year. The boom in Spanish real estate is even more visible on a quarterly basis. The second quarter of 2024 ended with a year-on-year increase of 13%.
Poles are buying real estate in Spain. We defeated the Chinese
Poles constituted as much as 4.6 percent in the second quarter. all foreigners buying Spanish apartments. “This is a record level,” note Pekao analysts. This puts us in ninth place among the nations that buy the most Spanish real estate. The top three are British (8.4%), Germans 7%) and Moroccans (6.4%). We buy more apartments than, for example, Ukrainians (3.1%) and Chinese (3%).
The popularity of Spanish real estate among Poles may be surprising, but when we look at the prices in this country, it should not be such a big surprise. It's often just cheaper.
An apartment by the Spanish sea? In Spain it is sometimes much cheaper
The exception may be Madrid and Barcelona, where 1 sq m. costs an average of PLN 4,000. euroi.e. just over 17 thousand. zloty – provided by rankomat.pl. This amount is comparable to the average transaction price in the third quarter of 2024 in Warsaw (PLN 16,565). In the case of the remaining largest Polish cities, Madrid and Barcelona are more expensive. However, if you compare seaside resorts, Barcelona no longer seems so expensive. For example, 1 sq m. on the Polish seaside in Międzyzdroje costs approx. 22 thousand. zloty.
The price differences between the Polish and Spanish markets are even greater if we take into account less popular locations. According to an analysis by rankomat.pl, the price per square meter in many Spanish seaside towns (and not only) is lower than PLN 10,000. zloty. For example: in Alava we will pay PLN 9,416/sq m, in Valencia PLN 8,346/sq m, in Granada PLN 8,560/sq m, in Seville PLN 8,988/sq m, and in Santander PLN 7,704/sq m. The cheapest apartments can be found in Salamanca, where a square meter costs PLN 7,276. These are prices comparable to the average transaction per meter in the third quarter of 2024 in Łódź. According to Metrohouse and Credipass data, the average per square meter in Łódź they paid PLN 7,998. Prices in many other Spanish cities are sometimes much lower than in Polish ones. For example, in the third quarter per square meter In Krakow they paid PLN 14,787, in Wrocław PLN 11,890, and in Gdańsk PLN 12,888.