Poles at the forefront of foreign property investment. Forecasts indicate further growth

Our compatriots have risen to the TOP3 of countries most committed to investing in foreign real estate, with Spain set to achieve the highest return on investment, according to the latest CBRE report. In turn, this year’s Knight Frank forecasts clearly indicate Poland as the second country with potentially the largest increase in high net worth individuals over the next five years.

2026 a phase of greater property market activity

According to the CBRE European Investor Intentions Survey, the 2026 outlook for the real estate market promises to be optimistic and it is entering a phase of greater activity. According to experts, allocating capital to the foreign property sector still appears to be the most stable investment choice.

As many as 89% of investors surveyed expect the level of real estate investment activity in 2026 to remain at least at the same level as the year before – or to increase. In contrast, as many as 83% of those surveyed expect sales to remain at a similar or higher level than in 2025.

The survey results also indicate a moderate to significant increase in demand from property occupiers in the near future. This is influenced by both demographic changes and geopolitical instability, as well as the continued high demand for properties with limited supply. In addition, entrepreneurs estimate that customer expectations regarding property prices will be more in line with market realities.

Spain with the highest return on property investment

The Spanish property market is set to achieve the highest return on investment in all of Europe in 2026, according to CBRE’s predictions. In contrast, The Wealth Report 2026, published by Knight Frank – The Wealth Report 2026, showed that Poles are likely to achieve the second highest rate of growth in the number of people with the highest wealth (UHNWI) over the next five years, an increase of 62.6%. In practice, it is Germany and the UK that currently have the highest proportion of wealthy people in Europe, but the projected growth in these countries remains much lower – 23% and 11% respectively. Indeed, Poland – together with Sweden – are considered to be among the fastest growing economies on the European continent. The growth of the group of billionaires in these two countries is among the highest in the world, and Poland ranks 2nd in this ranking, with a projected growth rate of almost 123%.

Marbella a key property location in Europe

According to The Wealth Report 2026, Marbella is now one of the leading property markets in Europe. In 2025, their prices there have increased by 8.1%, almost three times the average of other European countries.

The report clearly shows that the market on the Costa del Sol is seen as one of the most stable in Europe, with properties maintaining their market value over a long period of time. Demand on the Costa del Sol is driven by the perfectly developed infrastructure, a wide network of international flight connections, numerous golf courses, renowned international schools and luxury residences that have been a hallmark of the region for years.

The unique climate – offering more than 300 days of sunshine a year – and Spain’s economic and political stability are also key, reinforcing the Costa del Sol’s appeal to both investors and those looking for a place to live.

Marbella also ranks as one of the world’s most luxurious destinations, coming fifth in the Barnes City Index 2026, which presents a list of cities that are most desirable to people with a net worth of $30 million or more (so-called Ultra-High-Net-Worth Individuals status). So far, it has been juxtaposed with Miami, Dubai or Italy’s Milan. Recently, due in part to the Gulf conflict, the Costa del Sol has further gained the interest of investors there, who have begun to see it as a luxury, safe investment haven.

Real estate experts point out that the increase in demand from Gulf buyers is already noticeable and will be even stronger. The growing importance of foreign investors is also influencing the development of the catering, entertainment and retail sectors.

Spanish real estate market: share of Poles on the rise, non-EU investors on the wane

Data from the latest Registradores de España report for the first quarter of 2026 clearly show a growing participation of Poles in the Spanish property market, placing them in 8th position in the ranking of foreign investors. Over the last few years, it can be seen that there has been as much as a 3-fold increase in the number of Poles investing in property in Spain. On the other hand, the report of the Consejo General del Notariado (General Council of Notaries), summarising the whole of 2025, ranks Poles already in 7th position among foreign investors.

At the same time, according to data from the Spanish Association of Notaries, there has been a noticeable decrease in the number of properties purchased by non-EU investors – non-Spanish residents – by up to 17% in 2025 compared to 2024.

Part of the reason for the weakening demand is the expiry of the 'golden visas’, of which more than 6,200 were issued during the 12 years of the scheme. However, concerns, regarding the transparency of investment funding sources, the pressure on the local housing market and the limited availability of properties for the local community, translated into the programme’s abolition.

As a result, investors from most non-EU countries saw declines in the number of properties purchased – with the exception of Venezuelan nationals, who purchased 6% more properties in 2025 than last year. Currently, most non-EU buyers are investing in tourist locations.

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