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In the late 90s, the majority of Spanish property buyers were those seeking to retire abroad, or those affluent types seeking a 2nd home to take advantage of the burgeoning jet-set lifestyle, brought about by the advent of no-frills airlines.
Then during the boom years of the early 00s, the profile changed. There was an influx of aspiring Spanish property investors and speculators, with the age range of the typical buyer getting lower and lower as the credit glut grew out of control. In addition, we saw an increase in those seeking a home abroad as a place from which to conduct their business back in their home country, as mobile and internet technology became more sophisticated.
Now, here we are in the recession and a troubled Spanish property market, where most buyers fit one of 2 types:
- those seeking to retire or permanently relocate to the sun
- those cash-rich investors who are seeking out the genuine Spanish property bargains and Spanish distressed sales before the market returns to some sort of normality.
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