Using preferences for international retiree housing market segmentation

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Abstract
Economic theory tends to classify all retirees as a homogeneous group of consumers because of their stage in the life cycle. To examine how understanding consumer preferences of this population could improve housing demand models, we use cluster analysis to stratify international retiree migrant homeowners in Alicante, Spain. From the resulting clusters, we identify relationships between homeowner characteristics and housing preferences. We find three clusters of homeowners who vary significantly in their housing preferences and who can be identified using demographic and economic characteristics.

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