Poles buy real estate abroad. Spain is the most popular

Investing in real estate abroad is no longer something inaccessible. Poles are looking for a safe haven due to the uncertain situation beyond our eastern border and rampant inflation, and looking at apartment prices on the Baltic Sea there is sobering. For example, for the price of a studio apartment in Warsaw, which is almost 400,000. PLN, you can buy a small apartment by the sea in Spain.

Investing in foreign real estate for Poles has ceased to be something inaccessible – pixabay / Public domain

Although we could already notice the first signs of high interest in foreign real estate in December last year, the situation at that time was caused by the Polish government and the increase in inflation, which which has prompted the allocation of capital to safe and secure investments. According to data from Rellox – one of the largest sellers of foreign apartments and houses operating in the Central and Eastern European region, the real boom took place after the Russian invasion of Ukraine.

In the first month after the invasion, interest in offers increased by 81%, especially in countries that we believe are safe due to location or declared neutrality. Locations in Switzerland benefited by 210 percent. most popular, in Italy – by 168 percent. In the case of Spain, interest has increased by 45%, but according to experts, it is this country that could record the most transactions from customers from Central and Eastern Europe. In Spain, a buying boom in the real estate market is currently underway, thanks not only to Poles, but also to investors from other countries.

Costa del Sol - tent with sunny weather and other investments ...Costa del Sol – tent with sunny weather and other investments … / Public domain

Many apartments in Spain can be purchased at a price similar to that in Poland. The cheapest offers of apartments with two bedrooms and a living room – depending on the location, they start from 100 to 150 thousand. euro. Polish clients usually look for real estate offers depending on whether they are planning to buy a residence for permanent residence, a second home for vacation or simply thinking of an investment on which they can earn money optimally. What matters above all are the attractive locations in the coastal towns. Practically all year round in Spain there are excellent weather conditions, for example on the Costa del Sol and the Costa Blanca the number of sunny days per year is around 320.

The author of the material is an expert in the real estate market The author of the material is an expert in the real estate market – Adam Białas / Adam Białas
What matters above all are the attractive locations in the seaside townsMore importantly, attractive locations in coastal towns – pixabay/Public domain

Many national real estate agencies have even moved their offices to sunny seaside resorts, and they report doing as many home buying transactions in a month as they normally would in an entire year. In addition, the largest development companies in these countries, seeing how many wealthy Poles want to make a purchase, have launched sales teams in Polish. Community law allows citizens of European Union countries to buy real estate in other Member States on the basis of equal treatment. There are also no restrictions on their purchase by Polish citizens in the United States. We can buy a house or an apartment in the United States without any complications. It is enough to show a Polish passport.

Community law allows you to acquire real estateCommunity law allows you to buy real estate – pixabay / Public domain

Interest in real estate abroad is also favored by the increase in their prices on our market. Spain is currently the first choice on the list of countries where Poles buy apartments and houses. With an amount of 120,000 PLN Euro you can buy there, for example, an apartment with an area of ​​about 70 m² in a nice town, only 250 m from the sea.

The latest statistics from the Spanish Association of Notaries show that in 2021 there was a record increase in property sales, up to 38.1%. y / y, reaching the level of 676 thousand. 775 transactions, most of which are 507 thousand. were apartments. At the same time, the number of mortgage loans granted increased by 35.7%, reaching a total of nearly 345,000. operation.

The latest trend is buying real estate in exotic parts of the worldThe latest trend is buying real estate in exotic parts of the world – pixabay/Public domain

Portugal, Italy, France, Austria, USA, Dubai, Turkey, Greece, Bulgaria and Croatia are also gaining popularity with Poles. For example, in France, the average price per square meter of real estate is 4.4 thousand PLN. Euro, while in Austrian ski resorts you have to pay an average of 4.7 thousand, and in Malta about 5 thousand. euro. We will pay less in Italy, where we will buy an attractive property for 2.2 thousand. euro per square meter and in Spain, where an average square meter of an apartment costs almost 2.5 thousand. Euro., Bulgaria turns out to be the cheapest with a price of around 600 euros per square meter. The latest trend is also the purchase of real estate in exotic regions with potential, such as Thailand, Egypt or Cape Verde.

The latest trend is also the purchase of real estate in Cape VerdeThe latest trend is also the purchase of real estate in Cape Verde – Public domain
Poles have joined the group of nations most active in property purchases in Southern EuropeThe Poles have joined the group of nations most active in real estate purchases in Southern Europe – press documents. / Public domain

For several months, the Poles have joined the group of the most active nations in the purchase of apartments and houses in Southern Europe. No wonder, because more and more compatriots are included in the group of rich people. According to data collected by Forbes.pl in tax chambers across the country in 2020, more than 38.5 thousand. millionaires. It is not uncommon for wealthy people to own several properties, bought for investment purposes, but also for their own needs. Currently, the most common buyers of apartments abroad are entrepreneurs, natural persons interested in investing in rental premises, families with children and compatriots living permanently in other Western European countries. .

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