Who is buying property in Spain?
Interest from British and Dutch property buyers experienced a slight decline in 2023, contrasted by an uptick in interest from the Czech Republic and Finland, possibly due to their proximity to Ukraine. Simultaneously, the USA market has shown increased interest, driven by considerations of safety and concerns about gun crime, according to anecdotal evidence from our agents. While Brits and Germans remain among the top nationalities purchasing properties in Spain, there has been a discernible shift, with other nationalities contributing to a larger share of the market.
Notably, Polish buyers are on the rise, which could be attributed to the growth of high-net-worth individuals in Poland, alongside increased interest from Swedes and other nationalities. This shift in buyer demographics is a positive development for the Spanish property market, as it helps mitigate market volatility. In the past, when Brits and Germans dominated the market, any downturn in their respective countries had a more pronounced impact on the property market in Spain.
The Spanish property market remains robust, despite the global uncertainties of 2023, and continues to attract investors from around the globe. Buyer demographics have been slowly shifting since Brexit, Covid-19 and the war in Ukraine, with less Brits taking the plunge but more Swedes, Poles and Americans taking their place. House prices remain steady, fueled by a persistent scarcity in supply—a consequence of unprecedented buying activity and pent-up demand in the aftermath of the pandemic, and rental demand has surged with the rise of remote working.
Spain launched their digital nomad visa in January 2023, there’s been a lot of talk about better regulation of estate agents, and the Spanish and French governments are even lobbying for the EU to relax the 90/180 Brexit rule, which would mean Brits would be allowed to stay in Spain for a lot longer without the need for a visa. And if that wasn’t enough positivity - Spain came second in Internations’ annual survey of expats' favourite places to live in 2023.
Next, we leave you our contact information in case you need them:
- Telephone: +34 690 783 823
- Email: info@advancedpropertygroup.es
- Office: C/ Barranquet, 12, Moraira, Alicante (03724)
www.advancedpropertygroup.es Specialist in Estate Agency and Golden Visa
