New houses and developments in Ciudad Real
New developments in Ciudad Real
The province of Ciudad Real currently has more than 60 new development projects, surpassing 600 newly built homes throughout the territory. This makes it the third most prominent province in the last year in terms of volume of new developments, behind Toledo and Guadalajara, which concentrate a higher percentage due to their geographic proximity to the Madrid region.
The most expensive square meter in the entire province is located in the capital, exceeding €1,100/m². Valdepeñas follows with an average value of around €720/m², Alcázar de San Juan, close to €700/m² and Tomelloso, around €650/m². On the other hand, the cheapest are in Villanueva de los Infantes, which does not exceed €500/m², Socuéllamos, at about €500/m², and Pozuelo de Calatrava, which also has values close to €500/m².
Where is the largest volume of new developments located?
The municipalities with the highest number of new buildings, as well as the most prominent ones in the entire province, are the capital Ciudad Real, Puertollano, Alcázar de San Juan, and Valdepeñas. This is because they are the localities with the highest population density, which translates into higher demand, compensated with a wider supply.
What factors condition the sale price of a new property in the province of Ciudad Real?
Especially, what directly influences the final cost of a new home in the province is the relationship between supply and demand in the area. Therefore, municipalities with higher population density are those with higher cost and a more varied supply of new properties. Regarding the inherent characteristics of the property, location, orientation, construction materials, finishes, dimensions, and other extra characteristics such as the presence of a pool, gym, paddle court, garage, storage room, parks, or garden areas come into play. Regarding this latter aspect, it is worth noting that expenses will be lower in community urbanizations than in an independent house. Therefore, it is a factor to be carefully analyzed before making the purchase.
For all these reasons, one of the main tips when buying a new construction home in the province is to do it off-plan. If this is not possible, carry out the transaction in the early stages of construction. The final price may have a reduction of up to 30%, in case these steps are followed.
What is the situation of the new construction real estate market in the province of Ciudad Real?
According to a report by Tinsa, the real estate sector in the area has not appreciated in value in the last year compared to the previous year. This translates into stability in the sales price of this type of property. Appraisals establish the average price at around €1,000/m². Nevertheless, the province has more than 60 developments and over 600 new homes, both in the construction process and in commercialization.
The main localities are those that have the highest concentration of developments, mainly due to the higher population density of the entire area. Their proximity to Toledo slows down their growth, but it is expected that the recovery will be exponential and a slight growth will be experienced throughout the year.
What advantages do new homes offer over second-hand homes in the province of Ciudad Real?
After the last real estate crisis, it seems that the real estate sector in the region is recovering to its previous levels. Especially, it is concentrated in the capital and in the towns of Puertollano, Alcázar de San Juan, and Valdepeñas. New properties are always a guarantee of purchase compared to second-hand ones. They are fully prepared to combat the temperatures of the area and, in recent developments, the emergence of new technologies has been noteworthy, which are directly related to energy efficiency. In fact, many constructions already include systems such as solar panels, which represent an increase in the value of the property and a long-term saving for the future buyer.
In addition, the customization capacity of these properties is a favourable aspect, as they can be adapted to the needs and/or characteristics of the buyer while on the floor plan or in the early stages of construction. On the other hand, second-hand homes do not have this possibility and/or have greater difficulty in carrying it out.
Where to buy new development in the province of Ciudad Real?
Ciudad Real is the third province in Castilla-La Mancha with the highest volume of new construction developments. In the capital, it is possible to buy a brand-new property of about 125 square meters and 4 bedrooms for a starting price of €300,000. There are also one-bedroom properties with dimensions close to 60 square meters for a price of around €150,000.
In Puertollano, for example, it is possible to buy a two-bedroom house of about 85 square meters for a price of around €40,000. In Alcázar de San Juan, it is possible to acquire a semi-detached house of about 180 square meters for around €200,000. In Valdepeñas, the costs are similar, with a starting price of around €50,000 for a two-bedroom house of about 80 square meters.