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Renting 'most popular among young and retirees'

Potential purchasers of any of the extensive range of property for sale in La Zagaleta or other areas in and around Marbella may be interested to read of a recent study shedding light on the age groups in Spain that prefer to buy, and which are instead more inclined to rent. It found that younger people and retirees leaned towards renting their homes, while those in-between often preferred to buy property of their own.

The survey, conducted by a real estate management franchise, discovered that renting was the favoured option for 41.7% of 18-30 year olds polled, whether in a shared or individual flat. Those aged between 30 and 45, however, often preferred to buy property instead of leasing, the two options scoring 69% and 27.4% respectively.

However, El Mundo said that with increasing age after 45, also came an ever-greater tendency for renting a home to be the individual’s primary choice. This was the case for 44.5% of respondents aged between 55 and 65 years old, the percentage rising to 50.2% for over 65s.

While there are various labour and economic factors that help to explain such a trend, many older people’s preference for renting in protected residential communities also seems to have a major role. Indeed, this was the preferred option for 5.5% of tenants aged 55 to 65 years, with 13.3% of those aged at least 65 saying the same.

Former Madrid city councillor, Alejandro Inurrieta, commented during the study’s presentation that “It has always been said that Spain is a country of owners, but it is not true. The shift to owning property was not until the decades of the 1970s and 1980s.” He described the Spanish rental market as “still far from the statistics of the European Union”, and said that the practice of leasing a property in the country should therefore be encouraged.

If you are perusing the latest luxury property for sale in La Zagaleta but are unsure yet whether to buy or rent, such findings may give you useful food for thought. Remember that irrespective of your preference, here at One Marbella, we can assist in sourcing you the most suitable property, while providing a comprehensive range of other dedicated property services.

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