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Spanish house prices rising as expat buyers get younger
| Published: | 27 Aug at 6 PM |
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The average age of property purchasers in Spain is now at an all time low.
Along with a continuing increase in the popularity with expats of Costa del Sol properties, a new study has noted the average age of buyers is now 42 years. An analysis of property purchases in the region during the fist six months of 2018 shows 31 per cent of homes were sold to expatriates. Many are CEOs or entrepreneurs, with many saying their ability to work remotely was the major justification for the decision to emigrate.
As regards the drop in the average age of expat property purchasers, it’s believed to be a reaction to the result of the Brexit referendum and the present insecurity as regards the future of the UK outside the EU. The properties seeing the highest demand are those close to a beach, with Marbella and Torremolinos both favourite locations. At the same time, properties in Malaga are also seeing increased interest and rising prices.
Meanwhile, British retirees searching for a way to increase their monthly income as sterling falls might well note the predicament of one innovative expat resident of a quaint Spanish village in Valencia. Susana Meseguer, a 50-year old long-term expat resident in the village of Vilafames, decided to take tourists on a guided walk around the charming village after she’d lost her job and income. She signed up with the GuruWalk app, posted small ads for her service in local shops and was soon making around €60 a month telling stories about the village to fascinated tourists.
However, the Valencia government was far less than overjoyed when they were alerted to Susana’s little tours, sending her a letter threatening her with massive fines of up to €600,000 should she continue. Their argument is that she’s not authorised, and is taking work from professional tour guides. GuruWalk has called in their lawyers in an attempt to solve the issue, but believes the massive fine is disproportionate to the unintended offence. Susana is devastated as she saw her once-weekly or less tours as a hobby undertaken because of her love for the village and is insisting the local town hall knew what she was doing, having even sent her a group when their employees were too busy to take on a tour.
Along with a continuing increase in the popularity with expats of Costa del Sol properties, a new study has noted the average age of buyers is now 42 years. An analysis of property purchases in the region during the fist six months of 2018 shows 31 per cent of homes were sold to expatriates. Many are CEOs or entrepreneurs, with many saying their ability to work remotely was the major justification for the decision to emigrate.
As regards the drop in the average age of expat property purchasers, it’s believed to be a reaction to the result of the Brexit referendum and the present insecurity as regards the future of the UK outside the EU. The properties seeing the highest demand are those close to a beach, with Marbella and Torremolinos both favourite locations. At the same time, properties in Malaga are also seeing increased interest and rising prices.
Meanwhile, British retirees searching for a way to increase their monthly income as sterling falls might well note the predicament of one innovative expat resident of a quaint Spanish village in Valencia. Susana Meseguer, a 50-year old long-term expat resident in the village of Vilafames, decided to take tourists on a guided walk around the charming village after she’d lost her job and income. She signed up with the GuruWalk app, posted small ads for her service in local shops and was soon making around €60 a month telling stories about the village to fascinated tourists.
However, the Valencia government was far less than overjoyed when they were alerted to Susana’s little tours, sending her a letter threatening her with massive fines of up to €600,000 should she continue. Their argument is that she’s not authorised, and is taking work from professional tour guides. GuruWalk has called in their lawyers in an attempt to solve the issue, but believes the massive fine is disproportionate to the unintended offence. Susana is devastated as she saw her once-weekly or less tours as a hobby undertaken because of her love for the village and is insisting the local town hall knew what she was doing, having even sent her a group when their employees were too busy to take on a tour.
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