Spain emerges as a safe haven: Why Polish property buyers are flocking to the Costa del Sol in 2026

Polish investors defy market expectations in Q1 2026

Between January and March 2026, Polish nationals purchased 1,126 properties in Spain, 12.8% more than in the previous year and nearly 41% more than in 2024, according to the latest data from Registradores de España. As a result, Poles now rank 8th among foreign investors – contrary to the predicted decline that was expected to follow the introduction of regulations on short-term rentals in 2025. At the same time – amid the conflict in the Middle East – Spain is emerging as a safe haven for property buyers.

The “safe haven” effect: Why Poles are choosing the Costa del Sol

Over the last 10 years, Polish buyers have tripled their share of the property market in Spain. In absolute terms, this amounts to thousands of houses, villas and flats – already over 16,700 in the last five years. The preferences and motivations of Poles for buying property on the Costa del Sol and in Spain in general are increasingly linked to the search for a safe haven. “Given the ongoing conflict in the Middle East, this trend is likely to become even more pronounced in the coming quarters” – says Agnieszka Marciniak-Kostrzewa, founder of Agnes Inversiones – the largest and oldest Polish estate agency on the Costa del Sol, which is celebrating its 20th anniversary this year.

Record growth: Poles lead the surge in Spanish market share

Between January and March 2026, Polish buyers recorded the highest (+0.6%) increase in market share among foreign property buyers in Spain – reaching 4.61% and 8th place in the ranking. The 1,126 properties purchased represent a 12.8% year-on-year increase and are nearly 41% higher than in the first quarter of 2024, which had previously been a record year. At that time, Poles bought 4,213 houses and flats on the Iberian Peninsula, 77 more than in 2025.

Wealth forecast: Poland and Sweden to dominate luxury real estate

Knight Frank paints a positive picture for Poles over the next five years. According to the latest “The Wealth Report”, it is Poles – alongside Swedes – who are set to be the leading group of property buyers on the Costa del Sol. They are thus leading the way in terms of global growth in the number of ultra-high-net-worth individuals (UHNWIs) and billionaires – significantly outpacing traditional European powerhouses such as the UK, France and Germany. According to CBRE, among European markets, it is Spain that is set to achieve the highest total returns on property in 2026.

Shift in foreign demographics: EU buyers replace traditional markets

The latest figures, released by the Consejo General del Notariado, confirm that foreign buyers continue to account for a significant share of the property market in the Iberian Peninsula. In 2025, this figure stood at 138,254 transactions – just 0.6% less than the previous year, whilst 22% above the 10-year average and nearly 80% more than just five years ago. At the same time, 2025 saw a 17% decline in the share of non-EU buyers in the Spanish property market. As predicted, regulatory changes (including the abolition of ‘golden visas’) hit British buyers – they retained first place, but with a market share down by 8.3% year-on-year. Russian buyers lost as much as 22.5%, and Chinese buyers nearly 10%.

New investment opportunities: Marbella’s RMSER regulation

Meanwhile, new regulations in Marbella are creating opportunities to acquire abandoned developments that were never completed. At the end of April, the RMSER regulation (register of properties at risk or in a state of disrepair) came into force, giving the city new powers – ranging from the compulsory sale of properties to the possibility of taking over developments. This may create new opportunities for investors – particularly in the case of properties that have remained undeveloped for years. Marbella is thus moving towards a more controlled urban environment and urban development.

Marbella remains the price leader on the Costa del Sol

With average property prices of €4,300 per square metre, Marbella leads the way on the Costa del Sol in this respect – ahead of Fuengirola (€3,656) and Nerja (€3,556). The average property price in the provincial capital, Málaga, is significantly lower – just €2,860 per square metre – whilst also being the highest among all provincial capitals in Andalusia.