New houses and developments in Córdoba
New development in Córdoba
Currently, the province of Córdoba has more than 100 new construction projects, including townhouses and apartments in various stages of construction or already completed and for sale. In 2021, Córdoba had the highest number of planned housing units in the last fourteen years. According to data from the Association of Quantity Surveyors of Córdoba, between January and March of that year, more than 350 housing units were authorized for construction, compared to less than 200 on average in previous years.
Regarding the city of Córdoba, 3,362 housing units have been sold. The price per square meter in the entire province is around 1,200 euros. Córdoba is the most expensive locality, with a value per square meter ranging around 1,400 euros. It is followed by Villarubia de Córdoba, with an average of around 1,000 €/m², Palma del Río at 880 €/m², Cabra at around 840 €/m², and Almodóvar del Río, where the average cost per square meter is about 830 euros. These areas are more expensive due to demand and location.
Regarding the cheapest properties, they are located in towns farther away from the capital. For example, Peñarroya-Pueblonuevo (over 480 €/m²), Moriles (around 480 €/m²), Bujalance (over 650 €/m²), and El Carpio (near 660 €/m²).
Where is the largest number of new developments in the province of Córdoba located?
The largest volume of new construction developments is located on the outskirts of Córdoba city. Other towns where urbanizations are also being built include Baena, Villarubia, and Villafranca de Córdoba. These are 2, 3, or 4-bedroom homes with a garage and storage room, and the penthouses with large terraces are particularly noteworthy.
What factors affect the final cost of a new construction home in the province of Cordoba?
The price per square meter of new development in Cordoba will depend on its location, the size of the property, available services, construction materials, and other factors such as demand in the real estate market at the time.
The cost of acquiring a 70m² single-bedroom new construction home ranges around €165,000, while a three or four-bedroom home of around 130m² costs around €220,000.
If you want to buy a new construction property in the province of Cordoba, the best option is to invest in it before construction begins. Otherwise, the price per square meter may increase by more than 5%.
Additionally, in 2022, it is projected that housing prices will increase by up to 15%, partly due to rising construction material costs. The increasing cost of these materials is causing serious economic and timeline problems and may even result in the halt of some construction projects.
What is the situation of new housing developments in the province of Córdoba?
The average price of new and used housing increased more than 6% year-on-year compared to the previous month. The price increase is above the national average throughout the country, except in major cities where the cost of used or new homes rose more than 5%.
The El Higuerón neighbourhood is not the most expensive area of Córdoba, but it has grown the most in year-on-year terms. The price per square meter is over 1,100 euros, 7.6% more than in January of the previous year. The city center area remains of interest, but its growth has slowed in recent years, partly due to a lack of land for construction. As for the province, El Carpio or Moriles are the towns with the fewest new housing developments.
Why is it important to buy a new house compared to a second-hand one?
Acquiring a property is an important decision that involves considering various factors. In recent years, the market for buying new homes has been on the rise, compared to the real estate crisis of years past. In Cordoba, this trend has been concentrated in the outskirts of the city, thanks to the excellent location of the land, compared to older or second-hand homes.
Newly built properties involve a greater economic investment, but they are more efficient and offer guarantees such as the quality of the materials with which they have been constructed. Additionally, you have the possibility of being the first to live in the property or, if you buy off-plan, it may be possible to make changes to the finishes or the distribution of some spaces. Furthermore, most new developments include amenities such as a garage, park, pool, and the more exclusive ones even offer a private gym or tennis court. Something that is difficult to find with a second-hand home.
Where to buy a new building in Córdoba province?
The new construction developments in the Cordoba real estate market are spread out, although the majority are located in the capital city. The neighbourhoods of Noreña, Figueroa, Zoco-Poniente, Vistalegre, Brillante Trasierra, and Naranjo have the most developments, with the latter three being particularly popular due to their natural surroundings.
The eastern part of the city also has a large number of new properties, with over 550 being sold in neighbourhoods such as Mirabueno, Carrera del Caballo, Chinales, and Naranjo. A 90 m² apartment can cost around €195,000, while a 3-4 bedroom apartment of around 155 m² can cost €255,000.
Most of these properties are apartment buildings, but there are also single-family homes, such as chalets or townhouses, with up to four or five bedrooms. The prices for these homes range from €172,000 for the most affordable to €470,000 for the most expensive. There are also townhouses available, particularly in the Arruzafa neighbourhood, known as Cordoba's "golden mile."