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News: HOUSE SALES INCREASE FUELLED BY SENIOR CITIZENS

1 Nov 2017 Back
HOUSE SALES INCREASE FUELLED BY SENIOR CITIZENS

Figures that have recently been released by the National Statistics Institute show that the sale of houses on the Costa Blanca increased by 17.2 percent in August this year - compared to the same time in 2016. The figures also show a rise of 11.3 percent over July 2016. Over the whole of Spain, purchases and sales of residential properties rose by 16 percent in August - covering a total of 41,282 Sales.

This was the fourth month in succession that such an increase had been recorded. House sales for the whole eight months of 2017 have now risen by a total of 14 percent.

The interesting factor, however, in the current upsurge of house sales - is that it seems to be Senior Citizens who are fuelling Spain's urban property boom!

A study from Century 21 Spain showed that it is generally buyers aged over 60 who are the mainstay of the real estate sales recovery seen in the country's largest residential areas. The comprehensive analysis carried out by Century 21 found that those people aged 60 and over are the biggest beneficiaries, now that the financial crisis has passed.

Incredibly, three out of every four home transactions (including both purchases and sales) carried out in Spain today is by people aged between 60 and 70. This does allow, however, for the fact that the larger number of sales by older people sees them 'downgrade' in size after their children leave home.

Many of the current buyers are expatriates; in this category, it is mainly the British; German; Dutch and Scandinavian buyers aged over 60 who are most active in the marketplace today.

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