New notarial data from Malaga province reveals a striking shift in the foreign buyer rankings [citation:1][citation:6].
The new top five in Malaga:
1. 🇬🇧 United Kingdom: Still leading
2. 🇳🇱 Netherlands: Strong presence
3. 🇸🇪 Sweden: Consistent demand
4. 🇵🇱 Poland: Overtook Germany
5. 🇩🇪 Germany: Now fifth
Why this matters:
Polish buyers have surged past Germans, who were traditionally among the largest foreign buyer groups in the province [citation:1][citation:6]. This isn't a blip, notaries confirm a "clear increase in Polish clients over the last three to four years" [citation:1].
The numbers behind the trend:
• Polish buyers purchased 4.136 homes in Spain in 2025 [citation:2]
• They now rank 8th overall among foreign buyers nationally, accounting for 4,26% of all foreign transactions [citation:2]
• In Q2 2025 alone, Poles closed over 1.000 deals, a record-breaking figure and 8% higher than Q2 2024 [citation:4]
• Over the past five years, Poles have completed more than 15.500 property transactions in Spain [citation:5]
What's driving the shift?
1. Geopolitical factors
The war in Ukraine has been a significant catalyst. As one notary explained: "Beyond the weather and tranquility, there are determining geopolitical factors related to the war in Ukraine and the fear of possible Russian aggression" [citation:1][citation:6]. Poland's proximity to the conflict has prompted many to seek "plan B" residencies in Spain [citation:4].
2. Poland's economic rise
Poland's GDP per capita (PPP) is set to surpass Spain's by 2026, according to IMF forecasts [citation:4]. Polish buyers are no longer seasonal workers, they're investors. In 2025, Poland's economy grew at 3,6% [citation:10], expanding the ranks of wealthy Poles with capital to deploy.
3. Wealth, not labour
The Polish buyer profile has transformed. What began as labour migration in the 1990s has become high-net-worth investment [citation:4]. As one real estate director put it: "Polish clients are key and they are driving new construction projects" [citation:6].
The infrastructure angle:
This is a new, fast-growing capital corridor. Polish buyers are bringing accumulated wealth from a rapidly growing economy into Southern European property. Every transaction requires cross-border movement of funds, currency conversion (PLN → EUR), and compliance coordination.
The Polish surge is a payment flow waiting to be understood.
Data sources: Spanish Notary Council, Registradores de España, TVP World, Diario Sur