Swedish buyers are the fifth most important foreign buyers in Spain. Indeed, they buy over 4,000 properties per year, representing 5% of all foreigners. Where do they buy? At what price?
Sweden was the #5 nationality of foreign buyers in Spain last year. Indeed, more than 1 in 20 foreigners who purchased a home in Spain was a Swedish buyer (5.80%).
Only four nationalities were more important: the British, the Germans, the French and the Belgians were more active in the Spanish property market than the Swedish nationals.
As foreign buyers acquired 65,400 Spanish homes last year, this 5.80% means that the Swedes bought close to 4,000 Spanish properties.
In the Top 5 nationalities
Although buyers from Sweden have slightly decreased recently, the proportion of foreign buyers that they represent has been above 5% each year since 2011. As a consequence, Swedes are part of the Top 5 nationalities of foreign buyers in Spain, with the British, the French, the Germans and the Belgians.
Another strong statistic: the Swedes bought 10 times more properties in 2018 (close to 4,000) than they did 10 years ago (394 transactions in 2009).
The Spanish press loves to talk about “Scandinavian buyers”. Both the Norwegians (25.67%) and the Swedes (20.49%) show a strong appetite for new homes when buying in Spain.
However, Norwegians are not as important as Swedish buyers, as they represent only 2% of foreign buyers (close to 3 times less than the Swedes and their 5.80%).
Another common point is the high purchasing power of citizens from Norway as well as Sweden. Indeed, both are part of the top 3 nationalities. Below are the average mortgages contracted by buyers from Norway, Germany and Sweden:
1. Norway (€271,764)
2. Germany (€244,543)
3. Sweden (€183,557)
An important note however is that in Spain, the usual loan-to-value is at 70%, therefore these figures point at property values significantly higher.
A strong specificity of Swedish buyers is that one in five opted for a new home (20.49%). Therefore, when it comes to new homes, Swedish buyers are the #2 most important nationality, beaten only by the Belgians (32.84%).
What price do they pay?
Swedes pay nearly €2,500 per metre square for their homes
The average price a Swedish buyer pays for his or her property was €2,433 per square metre in 2018, slightly more than other foreigners.
How does that compare with Property prices in Stockholm? According to Statista, the average cost of an apartment in Sweden stands at € 7,316 per square metre.
In other words, the Swedish owner of a 20 square metres flat in Stockholm (€7,316/m2) can afford 100 square metres in Alicante (€1,506€/m2).
What’s more, real estate prices have more than doubled in Stockholm in a decade (TheLocal.se). Therefore many property owners can leverage this price increase at home, to acquire large homes in Spain or Portugal.
More than 75% of the Swedish buyers acquired properties larger than 60 square metres. However only 27.29% bought homes larger than 100 square metres, so we can’t conclude that Swedish people are only interested by large homes.
To realize what it means, we need to look at another nationality of foreign buyers: the Italians. Indeed 40% of the Italians acquired flats and houses smaller than 60 square metres. Therefore, to sell a relatively large property, it’s best to market it to Swedish buyers than to Italians.
Where do the Swedish buy in Spain? In short the answer is:
1. Valencian Community (2,030 properties)
2. Andalusia (1,486 properties)
3. Balearic Islands (276 properties)
4. Canary islands (187 properties)
5. Murcia (102 properties)
In other words, Valencia and Andalusia are extremely important for them. So, let’s dig a bit further, and study these two in more details.
In the Valencian Community, only the British are more active home buyers than the Swedes (8.94%).
Some of the locations part of the Valencian Community:
Altea, Benidorm, Alicante, Ciudad Quesada, Torrevieja, Gran Alacant, La Zenia, Orihuela Costa, Costa Blanca, Denia, Calp, Xabia
If you’re looking to sell a property located in Andalusia, know that Swedish buyers are the second most important international home buyers. Indeed, more than 1 in 10 foreigner is Swedish (10.09%).
Some of the locations part of Andalusia:
Nerja, Torre del Mar, Malaga, Fuengirola, Marbella, Estepona, Costa del Sol
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