The new construction home gave the surprise in 2020. Despite the fact that the arrival of the covid-19 stopped operations and filled the real estate market with uncertainty, managed to end the year of the pandemic with sustainable demand, a good volume of operations and a rise in price.
“After the period of confinement lived in 2020, the new-build housing market has shown a better evolution compared to the second-hand housing market”, Explain Valuation Institute, which has summarized in a study the reasons justifying this recent push for newly built houses, among which stand out that they better fit the needs of the demand, its higher energy efficiency, that are located mainly in the suburbs and that offer greater comforts than used properties.
1. Better adjust to new demand needs
Confinement to avoid coronavirus infections has caused many families to realize the shortcomings of their home, especially the lack of interior and exterior space. Therefore, explains the study, “in recent months a greater interest in new construction homes, villas and other properties that meet the demands of consumers today: wide and outdoor spaces, brightness, extra stays for teleworking or high energy efficiency, among others.
2. The extra spaces, even if they are community
In addition to the change in demand in the characteristics of the properties, The Institute of Valuations ensures that the need and desire to
the demand to have extras like gardens, children's areas, sports or pool.
“These spaces, most common in new construction, have gained importance in recent years and can also be decisive when making a decision to buy a home”, clarifies the study. Parking spaces and storage rooms They are also among those extras that the demand seeks.
3. Your location: more outskirts than in the urban center
Another reason that justifies the recent impulse of the new construction is that, habitually, are located on the outskirts of the large urban centers or in medium-sized cities, which allows the consumer to have more space for the same price, or even less.
In this sense, the study recalls that the availability of land in the center of cities such as Madrid or Barcelona is usually limited, so that “These areas further away from the center are presented as another attraction for those interested in new construction. Is about enclaves with lower population density and quieter, but they usually have all kinds of services nearby like schools, hospitals or shopping centers”, point out.
4. More efficient and with the possibility of choosing finishes
Another of the great benefits offered by new construction is the possibility of customizing the home on plan and choosing materials that you want to use for rooms such as bathrooms or kitchen, which avoids having to carry out reforms in the future.
“Being able to design a custom home with styles such as the ‘open concept’, the possibility of including home automation technology or other solutions that favor energy savings, are some added values that the new construction offers”, Valuation Institute emphasizes, that also stands out “the sustainability that characterizes these homes, taking into account that construction processes are currently more sustainable and houses, plus efficient. In fact, according to a European Commission directive, in 2021 all new buildings should be near zero energy consumption”.
5. Advantages in the form of payment
Although it is usually more expensive to buy a new house than a second-hand one, the truth is that in many cases they have payment formulas that offer facilities to buyers, how to start paying while your home is being built (for example to buy off plan) o the building or achieve advantageous financing conditions by the agreements that the promoters may have with the banks (like the subrogated mortgages to the developer loan).