Poles have set their sights on Spain as a preferred place to purchase property and enjoy the sun—and perhaps even retire there one day. In 2024, foreign nationals recorded the strongest increase in home purchases, maintaining the momentum of previous years. Since 2021, property purchases by Poles in Spain have increased by an impressive 153%. This increase coincides with the war in Ukraine, which, along with attractive property prices, has encouraged many Eastern European citizens to invest on the other side of the continent. “They want to feel both physically and financially secure,” Katarzyna Wabia, a real estate agent specializing in Polish clients and founder of the Aria Spain agency in Alicante, explains to 20minutos.
According to the Notary Public Statistical Information Center, Poles purchased 5,947 homes in Spain last year, a 35% increase compared to 2023. This ranks them ninth among foreign buyers worldwide and fifth among non-residents, behind the English, Germans, Dutch, and Belgians. While transaction volume still lags far behind that of more traditional nationalities, it has tripled compared to pre-pandemic figures. In 2019, only 1,684 transactions were registered by Polish buyers.
After an initial upswing following the COVID-19 lockdown, the number of people looking to invest in Spain has increased significantly, particularly following the Russian invasion of Ukraine. “Since the war began, we’ve received a flood of inquiries. The phone rang constantly,” recalls Agnieszka Marciniak-Kostrzewa, founder and director of the Agnes Inversiones agency, which has been operating in Marbella since 2006 and specializes in Polish clients. The proximity to Ukraine has meant that the war is very much present in the minds of Poles. Fear and uncertainty have led many of them to seek a home abroad. “The war is still a reality; we receive daily news about what’s happening on our border, and we don’t know how it will end. Many Ukrainians live in Poland, and you can hear their language on the streets, in shops, and in schools…” explains the Polish representative.
The war has prompted Poles to focus on the westernmost part of the continent, and in particular on Spain, whose climate is a true “magnet” for those looking to buy a home abroad. “Poles value sea views, terraces, modern amenities, proximity to the beach, and good gastronomy,” explains the director of Aria Spain, highlighting the preferences that drive Poles to invest in the country. Among the most sought-after regions are the Costa del Sol and the Costa Blanca. In the Valencian Community, Poles are the third-largest foreign buyers, while in Andalusia they rank seventh. Last year, they accounted for 8.1% and 4.1% of transactions, respectively, according to data from the Association of Registrars.
Most buyers are seeking a second home to escape Poland’s cold and dark winters. According to the General Notary Office, three out of four homes purchased by Poles in Spain were purchased by non-residents. Last year, 4,404 such transactions were registered, compared to 1,543 by Poles living in Spain. Both buyer groups grew significantly last year: by 40.7% and 22.1%, respectively.
“They usually buy to spend the holidays or to come during the winter months, often with the intention of moving permanently in the future. There are also investors interested in short-term rentals to generate returns,” explains Wabia. “They’re not just looking for summer, but also for winter and autumn. In Poland, times have become more complicated, not because of the cold, but because it gets dark as early as 3:30 p.m.,” adds Alfredo Izquierdo, a Spanish real estate agent who was based in Warsaw during the crisis and founded Casa Viva, his own agency for the sale of properties in Spain, in the Polish capital four years ago.
Almost Retiring
Attracted by the Spanish climate, real estate agents consulted by 20minutos report that many buyers are even considering finding a home to move into in retirement. They agree that the typical profile is often that of a couple aged 40 to 65, in many cases approaching retirement. “They are often entrepreneurs, investors, or managers with a stable financial situation,” adds Izquierdo.Wabia. “There are entrepreneurs who founded their businesses in the 1990s and are now passing the baton to their children. Many are choosing to move to Spain to live or visit regularly,” Marciniak-Kostrzewa cites as an example.
Regardless of the war situation, the increase in home purchases by Poles in Spain also reflects the country’s economic progress in recent decades, which is also reflected in household incomes. Since the fall of the socialist regime, the Polish economy has developed strongly over the past 35 years and is now one of the fastest-growing in Europe. According to Eurostat data, Poland’s GDP grew by 3.7% in 2024, even surpassing Spain’s growth of 3.4%. The economic recovery in Poland, which currently has the lowest unemployment rate in Europe, has brought prosperity to the middle class and small business owners.
“In the cities, salaries are almost at Spanish levels. Income levels have increased significantly over the last 20 years, and buying a home abroad represents an attractive investment opportunity for many, especially in euros,” explains Izquierdo, pointing out that Poland’s currency remains the zloty despite EU membership. The real estate agents surveyed agree that most Polish buyers pay for their properties in cash, without having to take out a mortgage, and often opt for newly built properties. “In the most sought-after regions, such as the Costa del Sol and the Costa Blanca, clients must act quickly, as new developments are often sold out,” warns the Spaniard, whose agency specializes exclusively in the sale of new homes with an average price of around €400,000.
Another key attraction that leads Poles to choose Spain when buying a home abroad is the price. According to the General Notary’s Office, the average price per square meter for properties purchased by Polish buyers in Spain is approximately €2,757. Despite price increases in recent years, the price level in the Spanish market remains lower than in other major European countries, as well as in Poland itself. According to Eurostat data, real estate in Poland is, on average, 27.5% more expensive than in Spain.
“House and apartment prices in many popular areas of Spain, especially outside of Barcelona or Madrid, remain more attractive than in major Polish cities such as Warsaw, Kraków, or Gdansk. For the price of an apartment in central Warsaw, you can buy a comfortable apartment with a sea view in Spain,” explains Wabia. “If we compare a good house on the coast in Poland with one in Spain, prices are cheaper on the Costa Blanca and parts of the Costa del Sol. The climate is also a decisive advantage,” summarizes Marciniak-Kostrzewa.
