Swedish demand for Spanish property increases by more than 20%

Swedish homehunters in Spain look for properties near the beach, airport and local amenities.

New data from the Property Registrars – Registradores – and Spanish second home analysts Shario has highlighted the changing dynamics of foreign demand for Spanish property, revealing that Swedish buyers are the fastest-growing group…

According to the figures, sales of property to Swedish buyers in the summer of 2016 rose 22.7% compared to the preceding quarter, pushing Swedes into fourth place in terms of nationality.

Brits accounted for 18% of transactions among foreign buyers during that period, followed by the French (9%). However, the Swedes bought as many homes as the Germans (7% each of all transactions), but with one vital difference – Swedish demand is rising faster than German demand.

“Swedish demand for Spanish property is important in Alicante and the Costa del Sol, where they are the second biggest group of foreign buyers behind the British,” said Spanish property expert Mark Stucklin.

The actual number of Spanish homes bought by Swedes may seem small when compared to those bought by the British, but context is important. Up to the third quarter of last year, Swedes bought 2,797 properties in Spain – a figure that surpassed the 2,755 snapped up across the whole of 2015. The number of transactions averaged 1,000 for quarters two and three, which suggests that the total number for 2016 will come close to 4,000.

Most Swedish buyers seek out two-bedroom apartments or small townhouses, invariably within a one hour drive of the nearest airport, and usually close to the beach.