New houses and developments in Burgos
New developments in Burgos
The province of Burgos currently has around 30 new construction developments, ranging from properties that are close to completion and ready for delivery, to those that are still in the planning phase. Most of these developments are located in Burgos capital and its surrounding municipalities, just a few kilometres away, where apartment and duplex buildings predominate.
The cheapest price per square meter for new construction, ranging from 1,200 to 2,100 euros, can be found in Medina de Pomar and San Cristóbal. In these areas, it is possible to purchase a 50 m2 property for 68,000 euros or a 39 m2 property with a garage for 85,000 euros. The average price rises to 1,800 euros in Villa Pilar. The highest price per square meter is located in the San Agustín area, with a price of 2,300 euros up to more than 3,800 euros in the old town of the city.
Which towns have the largest amount of new developments under construction?
In the province of Burgos, the largest supply of new developments can be found in Burgos capital, San Pedro de la Fuente, and San Cristóbal.
What influences the price of a new property in the province of Burgos?
Typically, the price of new property and, consequently, the price per square meter in the province of Burgos, is the result of the relationship between supply and demand. In addition, factors such as economic conditions, job opportunities in the region, the purchasing power of citizens, and the average age of the population also have an impact.
In addition to these factors, the characteristics of the property itself, such as its location (north, south, or centre), the materials used in construction, orientation, insulation, and heating systems also play a significant role. The latter two are particularly important in the province of Burgos, due to its low winter temperatures, which makes them essential elements in a property. As for shared facilities and amenities, highlights include garages, green areas, outdoor sports facilities, and swimming pools, as well as energy-efficient measures such as solar panels in the community. If you are interested in purchasing this type of property, you can reduce the final price by buying off-plan or in the early stages of construction.
What is the real estate market like in the province of Burgos?
The supply of new developments in the province of Burgos remains stable year after year, with the province leading its autonomous community, Castilla y León, in terms of the number of building permits per capita (per 1,000 inhabitants) for new construction, according to data from the National Institute of Statistics (INE). This type of housing is highly in demand by the population of Burgos due to its excellent quality, affordable price, and attractive locations. As a result, of the 30 new development projects, 28 are located in the provincial capital, responding to the needs of the region and foreign investment. The remaining two are located in the municipalities of Aranda de Ebro and Medina de Pomar.
What is the importance of buying new developments compared to second-hand property in the province of Burgos?
One of the main reasons to purchase a property in a new development instead of a second-hand one is the amenities. The generational shift in priorities and needs translates into customers with clearer ideas and different preferences. Among them, are more open spaces, almost diaphanous, with a balcony and/or garden, more bedrooms, and common areas, where they can move around and carry out outdoor activities.
The reality is that a second-hand apartment, at first glance, does not meet the ideal conditions for today's customers. In any case, it would only meet them with a partial or total renovation, raising the initial purchase price. On the other hand, in new developments, the original features are already a plus compared to second-hand ones, in addition to allowing modifications on the plans or before delivering the property.
The vast majority of buyers of new build properties are first-time buyers, meaning they are looking to acquire their first home. They need it to meet their short- and long-term needs, and to live in it for the longest period possible. New developments offer more comfort, better condition and durability, as well as energy efficiency.
Where to buy new development in the province of Burgos?
Burgos capital accounts for more than 90% of new development in the province. Despite this, it is possible to purchase a property in the towns of Aranda del Duero and Medina de Pomar. The latter is due to its proximity to Vitoria-Gasteiz, and Miranda del Ebro for being just a few kilometres away from the province and the Spanish capital.
The development in Medina de Pomar has a starting price of 68,000 euros for a 51 m2 apartment with a terrace. The most expensive property is a new duplex of 100 square meters for 110,000 euros.
In Miranda de Ebro, it is possible to purchase a 3-bedroom, 100-square-meter apartment for 92,000 euros. The most expensive property is 109,000 euros for 108 square meters.
In the capital of the province, apartments are the predominant property type. The cheapest one is located in the San Cristóbal area, a 30-square-meter property with a garage for 85,000 euros. In the same neighbourhood, it is also possible to buy a new 4-bedroom apartment of over 110 square meters for 260,000 euros, or an 80-square-meter penthouse for 220,000 euros.
The most expensive area in Burgos is undoubtedly Reyes Católicos, where newly built properties start at 245,000 euros for the most basic one with 70 square meters and two bedrooms. The most luxurious one is a new penthouse with a garage, terrace, 4 bedrooms, and 152 square meters for over 590,000 euros.