From Warsaw to Costa del Sol looking for investment, faith and opportunities

Magda Molenda's love affair with the Costa del Sol began more than 3,000 kilometres away, on the outskirts of Warsaw. In 2022, the now 47-year-old owner of a haulage company discovered a lifestyle she had never considered before while watching a home renovation show on TV. "Please, look at how people live in Florida," she told her husband after seeing those seafront homes.

That moment did not remain a passing comment. She decided to turn the idea into reality. The distance to the US pushed her to look for closer alternatives. Croatia came up first, but she soon ruled it out. "I thought we should move somewhere away from Eastern Europe," she tells SUR. That shift led her to Spain.

The climate, the presence of the sea across much of the country and the country's Catholic roots drew her. "Spain is mostly Catholic and that's very important to me." Through a Facebook group for Polish expats, she contacted estate agency ZGB Services S.L. and arranged her first trip to Malaga. It was not easy: she had not boarded a plane for two decades because she felt "terrified" of flying.

When she arrived in the Costa del Sol, the impact came instantly. "I loved it from the very first moment," she says. Molenda admits she feels particularly drawn to the religious and cultural heritage of towns such as Estepona, Mijas and Malaga city, where she finds "old churches" and an atmosphere she did not expect in a country she had seen as more secular.

Her initial intention was to buy a home for her family. However, once she got to know the local property market, she changed her mind. She closed her first deal in Estepona - a penthouse for around 250,000 euros. "It was a bargain," she says now, given how much prices have risen. "It came with special conditions because the developer required full payment upfront, but we didn't hesitate." "This is very, very good," she remember thinking, as she looked at a home with sea views and a solarium. That purchase marked a turning point.

Within a few months, she made further acquisitions: another flat in the same building that the developer had struggled to sell and a detached house in Mijas she partly chose for its proximity to Malaga Airport. She completed all these early deals without financing.

Her strategy shifted when she understood how the off-plan market works. "You can buy a flat when there's nothing there yet and sell it later for a very good profit," she says. That logic, based on price growth during construction, proved decisive. In just four years, she has managed several properties, sold at least one at a profit and currently holds three assets, while planning to buy a higher-end villa.

Despite rising prices in Malaga province in recent years, Molenda still sees the market as attractive, albeit with some caveats. "I think prices are very high now," she admits, although she believes early-stage purchases from developers still offer solid medium-term returns.

Relatives and friends have already followed her lead. "My sister and my best friend have also bought here," she says, pointing to a ripple effect within her close circle. She links this growing interest to both the war in Eastern Europe and living conditions in Poland: high prices in cities like Warsaw, smaller homes and limited access to open space. By contrast, the Costa del Sol offers larger properties, better weather and proximity to the sea. "Here they're building big flats. In Poland, we have 50 or 60 square metres at most," she states.

Molenda now splits her time between Poland and Spain, staying for periods of around two months, depending on her business commitments. However, her long-term plans point south. She and her husband are considering a permanent move once they retire.

The number of Polish property owners in the Costa del Sol looks set to grow further. Molenda predicts this trend will accelerate after the outbreak of the war in the Middle East and the wider socio-economic and political instability in the region, which she believes will bring a "new wave" of Polish buyers to Spain.

"As far as I know, a few years ago many of them bought property in places like the UAE or Qatar to avoid taxes. Now I'm sure they'll consider buying in Spain. Even though taxes are higher here, it's worth it for the legal security," she says.