THE average age of property buyers in Marbella has plunged to a record low of 42 years old.
A report by estate agents Lucas Fox Marbella also found foreign interest in Costa del Sol properties is on the rise.
Foreign buyers have contributed to 31% of this year’s home sales, a 3% rise from 2017.
Many of these buyers are entrepreneurs or CEOs, citing their ability to work remotely as a reason for moving.
The average age of those buying Marbella properties is believed to be dropping due to Brexit pushing Brits to secure a holiday home or even move to a sunny location.
Unsurprisingly, the properties that were most in demand were homes near the beach, especially in Torremolinos and Marbella. With their beaches recently awarded with “Q” status, a recognition of quality by the Spanish Institute for Quality Tourism, beachfront properties can expect to see this popularity rise in the coming years.
Meanwhile, overall property sales and prices are on the rise in Malaga province as well.
Estate agent Idealista said that properties in the province were 12% more expensive compared to last year.
- Almost 40% of Spaniards fear Brexit will have a ‘very negative’ impact on Spain’s economy - 20 Apr, 2019 @ 11:03
- A Guide To Choosing The Right Casino For You - 16 Apr, 2019 @ 09:05
- Paedo pensioner, 88, spared jail after sexually abusing neighbour’s 8-year-old daughter in Spain - 15 Apr, 2019 @ 14:37
- IN PICTURES: Easter processions kick off in fine weather in Spain - 15 Apr, 2019 @ 10:06
- IN PICS: British family and Madrid studio restore gorgeous period house in Spain into B&B - 13 Apr, 2019 @ 17:54
- SHELL SHOCKED: Unexploded BOMB found on property in Spain’s Malaga - 13 Apr, 2019 @ 12:05
- World Dance Day Saturday 13th April 2019 - 12 Apr, 2019 @ 16:38
- 10 Incredible Ways Technology Will Change Education By 2028 - 11 Apr, 2019 @ 14:30
- Airlines in Europe could soon be forced to fork out €1,400 for every piece of lost luggage - 7 Apr, 2019 @ 10:31
- Spain has one of smallest number of food-related deaths in world - 6 Apr, 2019 @ 11:00