Spain’s property market to attract massive investments from pensioners.
As per the data obtained, it is indicative that majority of the wealth is held among people above 50 and hence, there is a strong speculation that a majority of their investments might be in the Spanish property markets.
Older people looking for a better quality of life are
moving to The Costa del Sol
Among the Brit expats, 14% of them are located in Spain and the expat portal of Brits known as the Brits Abroad has indicated that the property market of Spain might flood with investments, as majority of the people will be retiring soon and might strongly consider investing in Spain.
People retiring soon are rich on funds and will generally have the liberty to explore the world. However, when it comes to the place where they want to reside from then, Spain is generally the first choice, as per the Director of Kyero, Martin Dell.
Spain offers a variety of advantages, such as the excellent weather, delicious wine, healthy cuisines, beautiful golf courses and it is also rich on the cultural history. It also has sprawling architecture spread all over and has a lot to explore for retired people. The cost of living is also moderate, and people who have a decent affordability consider this to be the best place for retirement.
Despite the relative strength between pound and euro, pensioners from Britain are getting more for their money. As per the building society of UK, Nationwide, the cost of owning a house in Britain on an average is £200,251, equivalent to €255,000, making British to invest more in Spain.
Although there is no clarity about the EU referendum, the Brits are still eyeing on the property markets of Spain owing to the affordability it has to offer and the relatively lower living costs. Even today, Costa del Sol is the cheapest holiday destination in Europe, making it a tourist haven too.
Costa del Sol is now attracting real estate workers to invest more, so that they can cash in on the benefits once the EU debate has been cleared out.