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Polish people are increasingly choosing more expensive apartments in southern Europe, and the average reservation amount has increased by 10% YoY, surpassing €230,000 in 2023, according to Vela Poland’s analysis. Touristic regions continue to dominate among investors looking for properties in Spain. The most popular areas include Costa Del Sol, Costa Blanca North, and South. The company expects to maintain the positive trend and achieve further records.
“In the past three years, we have observed a growth in the average reservation amount for properties in Spain made by Polish investors. Since we started our operations in 2021, the average reservation amount has been increasing. In 2022, it reached €208,000, and preliminary data for 2023 already show €230,000,” says Michał Ćwierzyk, the CEO of Vela Poland. “The increase in this amount can be justified by several factors. On the one hand, property prices per square meter in Spain are rising, and on the other hand, we see a significant increase in the capital capabilities of Polish investors,” adds Michał Ćwierzyk.
At the beginning of 2022, the real estate sector in Spain experienced growth due to the resumption of flights and the gradual lifting of restrictions. Furthermore, the conflict in Ukraine and the resulting geopolitical uncertainty contributed to a temporary boom in the real estate market in southern Europe. The company’s analysis indicates that the first and second quarters of 2022 were record-breaking.
“In the first quarter of 2022, Vela Poland recorded 770 new customers interested in properties in Spain, while in 2023, it was 434 customers. However, direct comparison between these periods is challenging because the data from the previous year was influenced by the war in Ukraine, creating a sort of anomaly. The current trend shows that investors are making more thoughtful decisions, but the market is still growing,” adds Michał Ćwierzyk.
During the analyzed period, the average budget amount to purchase an attractive property has also changed. In 2022, it was around €100,000, and today it exceeds €120,000. Experts at Vela Poland estimate that attractive properties will continue to appear on the market in the upcoming months, particularly during the holiday season.
In 2022, citizens of the United Kingdom constituted the largest group of foreign customers in the Spanish real estate market. According to data from the Association of Property Registrars, British buyers acquired nearly 9,700 properties throughout the previous year. They were followed by Germans with 8,290 transactions and the French, who purchased 6,100 apartments and houses.
Vela Poland achieved record results in 2022. The company is currently conducting a crowdfunding campaign to raise €900,000. In 2022, they accomplished most of their emission goals, surpassing estimated financial results and achieving nearly €2 million in revenue and €450,000 in net profit. The company is already present in 6 European countries with its services and aims to expand to a total of 20 countries.