The Costa del Sol may have had a reputation for attracting a slightly older crowd in the past, but sales results for Spanish real estate consultant Lucas Fox Marbella are showing that this is no longer the case.
The company’s record start to the year has seen the number of sales more than quadrupling from 1st June to 31st May 2018. There has been a shift in the average age of buyers, now sitting at 42, which is notably younger than in recent years.
Lucas Fox’s Managing Director Rod Jamieson has commented: “There was once a time when the Costa del Sol was renowned for its older foreign population, lured by year-round sunshine and its easy pace of life.
“However a generation of tech savvy, entrepreneurial buyers are moving in, now choosing to relocate to Marbella with their families. They are not only attracted by the area’s unbeatable climate and lifestyle, but also by its good infrastructure, international feel, efficient services including many international schools, and the kudos that owning property in this sought-after enclave entails.”
Looking at the prices of property in Marbella, there has also been an increase during the same period. The company saw properties selling for an average of €971,000, which is almost double the average from the previous year.
For many, these are second residences, an overseas holiday home to escape to for a break away. However, there have also been a number of younger buyers looking to relocate or spend part of the year in the area, due to options to continue working remotely.
The nationality of those purchasing property in the area during the last 12 months has also shifted to 46% being Scandinavian, followed by 23% being from the UK.
43-year-old Swedish entrepreneur Amir Poursamad informed Lucas Fox why he was attracted to the company’s Anamaya Villas development, and why he is now looking for new business opportunities along the Costa del Sol: “Marbella is unique. In fact for me, it has it all – year-round sunshine, excellent infrastructure, high class dining, unbeatable beaches, designer shopping and sports facilities arguably unrivalled elsewhere.
“The business start-up scene is growing as the area’s demographics are changing – increasing numbers of eager young professionals like myself are looking for opportunities in a bid to make Marbella our permanent base.”
If you have found yourself at that point in life where a home abroad feels like the right investment, then it looks like the Costa del Sol is a place to consider. It has lot to offer in terms of warm weather and a relaxing environment for those looking for a therapeutic change in lifestyle. Just don’t forget to have the appropriate property insurance in place! Insure My Villa offers Overseas Property Insurance for ex-pats, who either live permanently abroad or own a property overseas and need Holiday Home Insurance.