The consequences of the war that occurred in February 2022 due to the Russian invasion of Ukraine are beginning to be seen in the statistics of the real estate market, two years after the beginning of the conflict and as the timeliness of the possible join the trend in the early stages. is scattered . There is Ukraine to consolidate in the ‘top 10’ of issuing markets for foreign investors for the Castellón housing market. Although it is not the country that has issued the largest number of buyers to our province, the demand for it is significant displaced to a historical colony for our regions, especially for the Baix Maestrat: the British. Ukraine is already positioned as the seventh issuer of foreign real estate investors in Castellón.
From January to June, according to data from the Notary College of the Valencian Community, 65 sales made by Ukrainians, 73.8% of last year, when 88 of them were counted. A year before, the year of the war, notaries certified 48 transactions by Ukrainians. Although there is another semester left, everything indicates that the Ukrainian sales record in 2024 will be revalidated. Castellón de la Plana is at the top of demand among Ukrainians, with 20 transactions from January to June, followed by Oropesa and Moncofa, with 11 transactions.
he delegate of the Notary College in Castellón, Jorge Sos, confirms “Because of the war, more Ukrainians came into the province and it may have happened that there was a consequence. for the compatriots to move here because of how the country is turning out. Break points out that “not only do they get second-hand housing, Ukrainians with money have also come and demanded new construction.” Similarly, the notary declares that if sales by Ukrainians continue at the same pace as in the first half, “a historic record could be reached at the demand of this community.”
The details are even more impressive if we compare it to the claim of the British, who had a very large colony for many years in Alcalà-Alcossesbre, among other coastal municipalities. From January to June, notaries already register 48 transactions, representing 62% of the total for all of 2023, 75 sales. Although it is difficult to revalidate the record registered in 2022, with 95 purchases and sales to Britons, the trend in 2024 expects growth in these operations compared to 2023. As usual, Alcalà de Xivert is more the t -demand for housing by the British. In this town, nine sales and purchases have been registered, with The average price is 201,561 euros for mobile acquisition. It is next on the list at Oropesa del Mar, with seven sales and purchases and an average price of 122,750 euros. After Oropesa is Castellón de la Plana, which records up to six real estate transactions and an average price of 107,083 euros. For him, Benicarló records four purchases made by the British from January to June; Vinaròs, Benicàssim and Peñíscola recorded three sales; Sant Jordi, dos and Cabanes real estate operation with the British.
In this exercise, ahead of Ukraine and the United Kingdom, Romania are the issuing countries of foreign buyers, with 347 of them operations; Morocco, with 184 transactions; France, with 171 buying and selling; Italy, with 82; Germany, with 78 records; and The Netherlands, with 68. It should be noted that the Netherlands has already received 78% of all sales from the previous year.
In short, the sale and purchase of houses among foreigners is developing at a good pace in the province of Castellón, as in the case of closed operations with Spaniards. According to data provided by the Notary College, Castellón recorded 1,566 apartment sales from January to June for foreign citizens, 6.8% more than in 2023, when 1,465 transactions were recorded. On average, 261 home sales are closed each month to foreigners in our regions, according to notary statistics. In addition, the sales recorded in the first half of 2024 exceed those recorded in the same period in the last six years. Even those before the coronavirus pandemic, did not even reach a thousand operations.
From January to June it stood at the average price of real estate sales made by foreigners 89,935 euros per operation. The average price is higher than the entire price for 2023, just over 86,300 euros, and, so far, it is the highest in the last six years. In 2018, the average value of a house bought by a foreigner was 66,419 euros.
The demand for new construction houses by the foreign community is increasing in the province of Castellón. According to statistics provided by the Notary College of the Valencian Community, Brand new apartment transactions from foreigners in Castellón are already at 88.7% of all 2023. Of the total sales made by foreigners, the sum of 1,469, the majority, relate to second-hand houses and only 95 of them are new construction – two of them in the construction period.
Sales of brand new homes have only been on the rise for half a year only 12 transactions away from reaching the 2023 volume, 107 transactions. It was the year with the highest number of purchases and sales of brand new homes by foreigners, in at least the last six years. Furthermore, no year since 2018 has seen as many sales and purchases as in the first half of 2024 (leaving aside those recorded in 2023). Although the notaries do not know the reasons why this amazing growth has occurred, they practically assume that by the end of 2024 the record of 2023 will be surpassed easily, almost 80% of the houses found are apartments, and 20% are single-family houses.
Price of properties purchased by foreign buyers in Castellón. The figures indicate a positive trend in the real estate market as the region continues to attract international investors, particularly from Ukraine and the UK. The overall increase in foreign transactions reflects a growing confidence in the local housing market, buoyed by the influx of buyers seeking properties in Spain.
The ongoing conflict in Ukraine has played a significant role in shaping these trends, as many Ukrainians are seeking safe havens and investment opportunities abroad, and Castellón has emerged as a viable option. With Castellón de la Plana leading in demand among Ukrainians, the statistics suggest that the appeal of the province is likely to strengthen further.
Looking at the broader context, the surge in foreign investment in Castellón also aligns with a broader trend in the Spanish real estate market, where overseas buyers are increasingly drawn to regions with favorable living conditions, climate, and property prices. As the year progresses, it will be crucial to monitor how geopolitical factors impact purchasing behavior and to evaluate the sustainability of this growth in the coming years.
the Castellón real estate market is experiencing a notable increase in foreign transactions, particularly from Ukrainian and British nationals, as the region positions itself as a key player in the competitive landscape of Spain’s real estate market. The positive trajectory of sales and the likelihood of breaking previous records highlight the province’s resilience and attractiveness for international buyers.
The real estate market in Castellón is experiencing notable changes in the wake of the Russian invasion of Ukraine, which began in February 2022. Over the past two years, Ukraine has emerged as a significant player in foreign property investments, now ranking as the seventh largest issuer of foreign investors in Castellón. This influx is primarily attributed to a growing number of Ukrainians relocating to the province, driven by the ongoing conflict in their home country.
From January to June 2024, Ukrainian buyers made 65 real estate transactions in Castellón, representing a 73.8% increase compared to the same period the previous year, when 88 transactions were reported. Castellón de la Plana has become the most sought-after location for these buyers, followed by Oropesa and Moncofa.
In addition to Ukrainians, British buyers continue to dominate the foreign market in Castellón. From January to June 2024, there were 48 transactions by British investors, accounting for 62% of their total for the year, which was 75. Despite the historical preference for Alcalà de Xivert, the rising demand also reflects areas like Oropesa and Castellón de la Plana.
Other countries contributing to foreign property purchases in Castellón include Romania, which leads with 347 transactions, followed by Morocco (184), France (171), Italy (82), Germany (78), and the Netherlands (68).
the real estate market in Castellón is thriving, with a reported 1,566 sales to foreign citizens in the first half of 2024—a 6.8% increase from the previous year. The average price of properties sold to foreigners has also risen to €89,935, surpassing last year’s average and marking the highest figure in six years.
The demand for new construction homes is notably on the rise, with new transactions comprising 88.7% of all sales in 2023, indicating a shift in buyer preferences. This trend emphasizes the region’s growing attractiveness to international investors and signals a strong recovery and expansion in the local housing market amidst external challenges.