New houses and developments in Asturias

New developments in Asturias

The province of Asturias closed 2021 with more than 1,400 newly built properties with permits, both in the construction phase and in commercialization. These figures demonstrate the province's importance in terms of new property developments on the coast of the Cantabrian Sea, surpassing nearby provinces such as Cantabria. According to data from the College of Surveyors of Asturias, more than 1,000 new houses were started in 2021, with Oviedo standing out, particularly for the speed of granting licenses.

In general terms, Asturias is one of the provinces with the lowest costs for buying a newly built home. The cheapest prices per square meter are in Langreo, where a property of this type can be purchased for around €700/m². It is followed by Mieres, with a minimum value of just over €700/m², Aller, at around €750/m², Valdés, which slightly exceeds €1,000/m², and Siero, at around €1,100/m². On the other hand, the most expensive newly built properties are located in Llanes, with prices exceeding €1,800/m², just over €1,700/m² in Gozón, and Oviedo, which exceeds €1,600/m².

Which towns have the most new property developments?

The main municipalities in the province are those that have the largest volume of new properties, under construction or ready for commercialization. Thus, Gijón, Oviedo, Avilés, Mieres, Siero, and Langreo are the most important cities in terms of new properties.

Which beach areas have the main new property developments?

The most relevant new developments in the province are located in Avilés, Gijón, Oviedo, and other coastal towns, such as Ribadesella, Cangas de Onís, Ortiguera, and Puerto de Vega Luarca.

What factors influence the cost of a new build property in the province of Asturias?

The price of a property, whether it's new construction or second-hand, is always subject to the current market situation, i.e., supply and demand. However, there are other factors that influence it, such as the type of construction materials and the increase in their prices, as well as other raw materials necessary for the development of any new construction.

In addition to all of this, there are other inherent factors of the properties that also affect the final price. These include the quality, the size of the property, the facilities, the communal or private services, the construction materials, and any new technologies included. In line with the latter, new construction projects are developed with new technologies and efficient energy systems, which increase the value of the property, but also provide long-term savings for the buyer.

If you are interested in buying a newly built property in the province of Asturias, one of the best options is to make the transaction while the construction is still in the planning stage, so that the final price is reduced. If that's not possible, it is advisable to make the purchase in the early stages to take advantage of a lower cost.

What is the new construction real estate market like in the province of Asturias?

Asturias ended 2021 with more than 1,600 new build properties, an increase of more than 200 properties compared to 2020. Thus, the province has recovered levels from previous years, and exponential growth is expected in 2022 and the following years.

At the regional level, Valle de Nalón has been one of the areas with the least growth, while the coastal areas and Oviedo have been the most prominent. In the last year, Oviedo has surpassed Gijón in terms of the volume of new construction projects. Other important areas in terms of new constructions are Cabo Peñas, Comarca Avilés, Comarca del Nora, and Comarca de la Sidra.

What is the importance of buying new development compared to second-hand property in the province of Asturias?

The real estate sector in the province of Asturias seems to have overcome the problems derived from past crises and restrictions, so it is on the rise again. Most of the new construction projects are concentrated in the main cities of the region and the most prominent towns along the coast, which are a guarantee and a great investment for both national and international buyers. This is because they have better quality and customization capabilities that second-hand homes do not have.

In the province of Asturias, new developments are characterized by residential complexes with all kinds of community services, such as garages, parks, swimming pools, and even tennis and/or paddle tennis courts. In addition, they usually include new technological systems related to renewable energy, which attracts more and more buyers, as it represents significant long-term savings.

Where to buy new development in the province of Asturias?

Asturias is one of the provinces with the highest number of newly built properties in the construction or commercial phase. In fact, it has higher figures than its neighbouring province, Cantabria. According to its association with surveyors, most newly built homes are located in Oviedo, Gijón, Mieres, Siero, and Langreo. These localities have the highest population density and are constantly expanding and developing. Prices for a new property in these municipalities range from €130,000 to over €1,000,000 in the most luxurious urbanizations and/or villas, with all kinds of amenities.

The metropolitan area of Oviedo, Gijón, and the Nora Region are the most notable, where apartments in urbanizations, penthouses, and semi-detached villas predominate. The values of these properties are higher due to the higher demand they have. On the other hand, the Valle del Nalón and Montaña Central regions have a lower number of newly built homes, although their prices are more attractive due to their reduced values. Therefore, they have the cheapest new property, with a final price ranging from €60,000 - €70,000.