Adios Polonia! They said in the first half of 2022, buyers of over 1,200 properties in sunny Spain.
According to data from the Bank Pekao Brokerage Office, Poles bought 1,270 apartments in Spain. The share of Polish customers among foreign buyers of apartments was also record-breaking.
Madrid, Barcelona, or maybe Las Palmas de Gran Canaria
As reported by Bank Pekao’s BM on Twitter, in the first half of this year Poles bought 1,270 apartments in Spain, and that’s not all, because the share of Poles among foreign investors was 3.1%, compared to 1.6% before the pandemic.
What are real estate prices in Spain? According to data presented by Pekao, the average price of a Spanish apartment was EUR 1,957 per square meter, i.e. an increase of 7.4% y/y. In the capital of Spain, the average price of an apartment is EUR 3,765/sq m. (+6.3% y/y), in Barcelona it is already EUR 4,272/sq m and the year-on-year increase is 2.6%. In Las Palmas de Gran Canaria we will pay on average EUR 2,106/sq m for an apartment, here the y/y increase is high and amounts to over 14%. In Q2, you had to pay over PLN 3,000 for an apartment in Palma. euro/sq m (+12%). Taking into account the rising energy prices in Poland, this is an idea for spending the winter far from Polish problems.
We not only buy, but also build
We not only buy apartments in Spain, Polish developers have also noticed this market and are developing their investments in these areas. The Cordia company is building in the Costa del Sol, the Jade Tower will have 116 apartments only 100 meters from the beach. The investment is addressed to investors from Europe.
Source: Strefainwestorów.pl
Advisor Estate offers real estate to Polish buyers with full support for the purchase process, as a proven partner to support the purchase of a second home, which may become the first home in the future