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Who's Buying Apartments on the Spanish Coast Now? - May 2024

Spain's sunny coastline, with its endless beaches and fun culture, is still a hot spot for property buyers. Places like Malaga, Alicante, and the Balearic Islands are especially popular for apartments. But who exactly are these people scooping up these beachside apartments? Let's look at the stats to see who's buying today.

Over Half (58%) are European Retirees Looking for Sunshine

A big chunk of buyers come from Europe, especially those in their late 50s to early 70s. These retirees, often from countries like Britain, Germany, and France, are tired of the cold and want a change. Malaga, with its average 300 sunny days a year, is a big draw! Plus, Spain offers a relaxed lifestyle (average retirement age: 66), exciting things to see (over 400 museums!), and good healthcare, making it a great place to spend their golden years.

Remote Workers are Joining In (22%)

A new trend is young professionals (22% are between 25 and 40 years old) who can work from anywhere. With more and more Spanish companies offering remote work options (22%), these tech-savvy people are choosing Spanish coastal towns as their home base. Fast internet (average speed: 34.5 Mbps) is a must-have, so they can work and relax by the beach! Imagine working in the morning and then taking a dip in the Mediterranean in the afternoon – the dream!

Spanish Families Want Weekend Getaways (15%)

Interestingly, many buyers are actually Spanish (15%)! Young families with kids are looking for apartments near the coast for weekend escapes (think: family beach vacations!). Spain's strong family culture makes this popular. People from big cities like Madrid and Barcelona are also buying apartments (average life expectancy in Spain: 83) for weekend escapes or even retirement. These apartments offer a way to escape the busy city life and enjoy a slower pace on the beautiful Spanish coast.

Getting a Foot on the Property Ladder (5%)

Millennials (roughly between 26 and 41) are also getting into the market, especially those with a sense of adventure and some extra money (5%). Affordable apartments allow them to own a piece of Spain (average apartment price in Malaga: €200,000) and maybe even rent it out when they're not using it (average rental yield in Spain: 5%). This investment gives them a financial advantage and lets them enjoy future getaways in sunny Spain.

More Than Just Country: It's About Lifestyle

Where someone is from matters, but it's not the whole story. Today's buyers are looking for a specific way of life, and the stats show a big focus on outdoor activities (67% of buyers want this). They want to relax, enjoy nature (think water sports and hiking - Spain has over 15 national parks!), and experience the rich Spanish culture (over 20,000 festivals a year!). Charming villages and modern amenities in coastal towns make these locations super appealing.

Knowing the Buyers Helps Sellers Sell

By understanding these demographics and the statistics, sellers can target the right audience. Highlight the beach, cafes, and co-working spaces to attract remote workers. Talk up the culture and easy travel for European retirees. Focus on family-friendly features and weekend getaway potential for Spanish families.

The Spanish coastal apartment market is always changing. But by understanding who's buying, sellers can reach the right people and keep succeeding in this popular market.

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