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CNN
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Agnes Marciniak-Kostrzewa’s phone never stops ringing. She has been in the property business for 25 years, helping Poles buy homes on Spain’s south coast, but the past few months have been “really crazy”.
There are many reasons why people exchange the Baltic coast for the Mediterranean Sea. More than 30 years after the fall of communism, Poles are wealthier than ever. Many of the people who started their businesses in the early 1990s are now aiming for retirement. And the remote work introduced by the pandemic has allowed many to live more rootless lives and choose warmer climates.
But real estate agents told CNN that their clients are now citing Russia’s war in Ukraine and fears of a possible escalation of the conflict as another reason.
“We experienced two waves of rapidly increasing interest in buying real estate. The first was in February 2022, immediately after the start of the war, and the second since February 2024,” Marciniak Kostzewa said.
The mood had darkened in recent weeks as Russia sought to build on recent battlefield gains, testing weaknesses along the front and attacking Ukrainian cities with airstrikes. President Volodomyr Zelenskiy warned this week that Ukraine would “lose the war” if the US Congress did not approve military aid.
And the comments by prominent Western figures have sparked unrest in other parts of Europe’s east. Former US President Donald Trump said in February that he would encourage Russia to do “whatever they want” to NATO members who don’t pay their obligations. Last month, Polish Prime Minister Donald Tusk warned that Europe was in a “pre-war era.”
“After President Trump’s statement, and after Tusk’s interview, I don’t know how many things like, can I come and buy the property within three days? How long will the whole process take to get the keys? I received a call asking about it,” Marcniak-Kostrzewa said.
According to Polish media outlet Bizblog, a record number of Poles bought property in Spain in 2023, surpassing the previous record set the previous year.
Maria Luis López, a notary based between Spain and Warsaw, said demand has “incredibly increased” since the beginning of the year.
“Very often, our clients say they buy property because they’re scared of war, they’re scared of Russia, and ultimately they want a place where they can live. If you have such a need, leave immediately,” she said.
Some people buy in a bit of a panic. Lopez said his client bought the property last month to avoid being drafted into the Polish army. Martiniak Kostzewa recalled another person who bought an apartment in Spain last month, driven by fears of an escalation of war, and asked to rent it out on the condition that he had ready access if needed. When she explained that evicting tenants from her property would take time, the client said, “Okay, let’s keep it empty in case something happens.”
Some people buy them for investment purposes. For Wiesław, a retired Polish man in his 70s, the prospect of war coming to Poland is a “black swan,” a low-probability but high-impact event. Still, he wants to hedge his bets.
“When I heard about Ukrainians fleeing the country within an hour with all their belongings, I realized that all my assets were in Poland.” Wieslow said he preferred to give only his first name to protect his privacy. He still lives in Warsaw, but he has bought a small property in Andalusia, southern Spain. “The trigger was actually the Ukraine war.”
But most buy it just for peace of mind. It is a backup plan for wealthy people who can afford to buy it. Another Polish buyer, who requested anonymity to discuss personal transactions, told CNN that the war was “definitely the main reason for the rush to buy.” The father of two said that for him and his wife, “the most important thing is knowing that we have a second home when we need it.” This gives us great peace of mind. ”
John Keeble/Getty Images
A woman hangs a sheet from the balcony of her apartment in Malaga, Spain.
Poles can be special. After the post-communist economic “miracle”, more Poles than before were able to buy holiday homes abroad. Poles may also feel the need to do so more because they share borders with Ukraine and Belarus.
But other Eastern European countries are also buying in the West. Liivia Illak started her business 20 years ago, primarily selling expensive real estate in Spain to clients in her native Estonia. But this year, she has received more requests than ever before, and many of her clients are looking for smaller properties.
“Three months ago, we started receiving requests for very small apartments in Estonia because people don’t want to put all their eggs in one basket. They just want to be there, so if the situation gets a little more serious, they have a place to come to,” Irak told CNN.
“Obviously, we are a NATO member, but I have to say there are a lot of people who are really, really scared,” she said. This year, she also helped a Lithuanian buy property in Spain, she said.
The surge in demand comes as Europe appears to be reeling from the issue of its own defense, while Russia intensifies its “war on nerves” by projecting an image of its inviolability. There is.
Putin’s grip on power in Russia is tighter than ever since a widely discredited election and the death of opposition leader Alexei Navalny extended his rule for another six years. .
And abroad, Putin is keeping Europe guessing. A missile headed for Ukraine entered Polish airspace. Belarusian troops massed on the Polish border on orders from the Kremlin. Estonia warned of “shadow war” attacks on its soil. And in Lithuania, one of Navalny’s top aides was beaten with a hammer, sending a message that even his home soil is not safe.
“They seem to be doing a good job because if they’re afraid that World War III could happen, even at the real estate level, they’re not going to change their lifestyle choices or their country. Or there could be a nuclear holocaust, or Russian tanks could come, and in many ways they have already won.” he told CNN.
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