The demographics relating to foreign buyers of Spanish property in the Marbella region of the Costa del Sol have undergone some interesting changes in recent years. At a time when the market has recovered and returned to a flourishing position, it is fascinating to monitor the shift in statistics relating to the people who are now buying in the area.
Recent feedback from the local real estate industry reported in the Financial Times newspaper in the UK, has noted a remarkable change in the age, nationality and work status of those wanting to relocate or purchase a second home in this part of southern Spain. The past caricature of the type of non-Spanish person who bought property in Marbella was of the older retired British male who liked to play a bit of golf under sunny skies.
Now figures are showing that the percentage of British buyers has steadily decreased and been replaced by other nationalities. A large proportion of the sector is presently made up of Scandinavians and buyers from French speaking countries, including France, Belgium and territories in the Middle East.
Not only has the nationality demographic altered, but in addition the age group and work status of those purchasing is quite different. It is no longer the general norm that people buying Marbella real estate do so to use it as a second home for holidays, winter sabbaticals and golfing mini breaks during their retirement years. More often today those moving to the Costa del Sol are working, often remotely, and are more interested in how good the wifi connection is rather than how close to a golf course they are.
The average age of buyers has resultantly dropped to approximately 42, and nowadays agents are far more likely to be showing prospective properties to a young Swedish programmer rather than an older English ex publican.
Spain remains one of the top destinations for home buyers within the EU not only due to the positive lifestyle criteria but also because the market is perfect for investors financially. The price of property within the Marbella region and across the country as a whole ensures that investment in Spanish real estate offers value for money and provides a wise investment in comparison to other countries.
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