A report published by Fastighetsbyrån, part of Swedish banking group Swedbank, suggests that Swedish and Norwegian buyers are taking advantage of the Spanish property slump.
The survey, conducted over the last four years, shows that whilst UK buyers are down by 65% over this period, the Germans are up by 3%, the Norwegians by 108% and the Swedes up an incredible 138%. However, the total market is down by 33% from its peak in 2007.
There are many factors that contribute to this trend, the Nordic countries maintain a strong economy. The Swedes, outside of the Euro, have a good exchange rate, something the Brits don’t have at present. And, Spanish property prices have dropped something in the region of between 30% and 40%, allowing buyers from the stronger nations to realise their dreams of owning a property abroad, particularly in Spain.
From the point of view of the LPG, we can report that many of our members have successfully sold property to the Swedish and Norwegian markets over the last two years, especially in Nerja which has proved very popular with Nordic clients.
By Property Investment Australia, 9 July, 2012 at 7:39
there is no doubt that the information is world class about property in spain.
By Robert (Administrator), 22 June, 2012 at 19:22
We have been dealing with Norwegian and Swedish buyers for some number of years now. More recently, as some of the traditional markets such as the UK have dropped, we have seen a much stronger demand from the Nordic countries. We work regularly with estate agents in Oslo and Stockholm. In our own office we also have Swedish staff.
By Graciella, 22 June, 2012 at 15:09
We met a lot of Norwegians on our recent holiday to Albir, Spain and most of them loved Spain. Many of them had also moved there after buying apartments or houses.
Spain seems to offer everything the Norwegians are looking for when it comes to a nice lifestyle. Great food, cheap property, lovely people and a beautiful climate. What more could you want?
Plus, aren’t the Norwegians overall just incredibly NICE?