Marbella property market attracts younger buyers
The British market after Brexit British market strengthens after Brexit certainty The UK market has been one of the main sources of tourists and property buyers on the Costa del [...]
Not so long ago Marbella was widely seen as a retirement destination for those in their golden years who enjoyed a game of golf.
Today we are seeing a very different story, recently highlighted in an excellent article in the Financial Times published on 24th August 2018.
As the journalist, Hugo Cox, points out, there is a whole new breed of buyers entering the Marbella property market and they are quite different to the ‘classic’ buyers of previous decades. “Scandinavian tech entrepreneurs” are replacing “retired British accountants,” with one local agent saying that in the past three years she has not sold a single property to anyone over 50.
In fact, the Olive Press recently reported that the average age of buyers is now 42. This certainly is a “sea change” in the market, as the FT says.
Furthermore, relatively few of this new breed of buyer are coming here for the golf. They are more interested in the area’s travel connectivity – which is now more than ever amply provided by Málaga airport – and locations close to international schools, as many have young families.
These amenities are as important to the new buyers as the sunshine, and they want excellent broadband connections as many of them work in digital technologies and the emerging blockchain sector.
It has also become clear that the typical Andalusian property is not what these younger, more technology-focused buyers are looking for either.
They demand what the FT describes as “the homogenous, white boxes favoured by the global beachcombing elite,” favouring locations in what is now known as the Costa del Sol’s ‘Golden Triangle’ of Marbella-Benahavís-Estepona, and are more concerned about the quality of the views and hours of sunlight than whether or not the property is in what is traditionally considered ‘a prestigious area.’
At Altavista Property we have a strong portfolio of off-plan properties in the contemporary style, all fitting the requirements of the younger, tech-savvy buyer who travels frequently and works remotely.
Please contact us and we’ll be delighted to show you some of the most modern residences on the coast.