Kuwaitis lead Gulf nationals in purchasing property in Spain 

Kuwaitis have topped the list of Gulf nationals purchasing properties in Spain, KUNA reported yesterday.

According to data from the Kuwaiti Embassy in Spain, over 7,000 properties are now owned by Kuwaiti nationals in the country.

Most of these properties are concentrated in the southern region of Andalusia, particularly in the province of Malaga. In contrast, the number of properties owned by Kuwaitis in other areas, including Barcelona, Segovia and Toledo, does not exceed 100.

With a noticeable rise in purchasing activity in recent years, Kuwaitis bought between 45 to 50 properties annually, topping the ranking of Gulf national buyers in Spain.

Kuwaitis own homes with an area of around 100 square metres, priced between €250,000 and €450,000 ($277,055-$498,700), with a small number investing in homes valued at €1 million ($1.1 million).

Property purchases in 2024 show a 20 per cent increase compared to 2004, reflecting an annual growth rate of one per cent.

Kuwait’s Ambassador to Madrid, Khalifa Al-Kharafi, told KUNA that Spain is one of the preferred European destinations for Kuwaitis, thanks to its stable security, political environment, climate and competitive real estate prices.

A study by the international real estate consultancy Knight Frank shows that Spain ranks among the top five European countries for real estate investment, following the UK, Germany, France and the Netherlands.

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