New houses and developments in Ла Риоха
New developments in La Rioja
Analyzing the trend in prices per square meter in 2021 and 2022, a relatively stable constant can be observed in the province of La Rioja. The data confirms that there is not a significant variation, as the annual fluctuation responds to 5% and the quarterly to 1%. That is, the price of La Rioja during February 2021 was around €1,200/m² and during the same period in 2022, the price per m² was almost €1,300.
Regarding the prices per square meter in municipalities near the capital, there is some fluctuation. Going from ascending valuation, Murillo de Río Leza and Nalda barely exceed €600/m², unlike Alberite, Arnedo, and Santo Domingo de la Calzada, which present a price higher than €800/m². Fuenmayor and Cirueña reach the maximum value in this territory, slightly exceeding €1,000/m², with Ezcaray and Ladero around €1,350/m². In the capital of the province, Logroño, prices rise to €1,500/m².
What are the locations with the highest number of newly built homes under construction?
Currently, there is a notable contrast between the 13 new housing developments in Logroño and the 7 in Laredo, as opposed to the 4, 2, and 1 found in Portillejo, Galilea, and Agoncillo, respectively.
What influences the price of new property in the province of La Rioja?
When buying a home, it is necessary to take into account certain factors that could significantly influence the price. As in most Spanish cities, the type of housing or services located near the home can modify the value of the property.
Due to the especially cold temperatures in this location, the choice of new development with a good thermal insulation system will always be a factor to consider. Although this condition may slightly increase the budget initially, over time, the need to condition the home with a good thermal system will substantially compensate for the slight investment made at the time of purchase. Regarding the importance of a home being protected against low temperatures, a specific plumbing system to prevent water from freezing in the property will be an added value that makes a difference.
Of course, the orientation of the home and energy efficiency should also be considered when making the final decision, as a poor choice could significantly increase the electricity bill.
If interested in acquiring a newly built property, it is advisable to buy off-plan or in the early stages of construction to keep costs down.
What is the situation of new development projects in the real estate market of La Rioja province?
The real estate market has been one of the most affected economic sectors in recent years. In fact, from January 2021 to 2022, according to the INE, a total of 1,000 new homes have been sold in La Rioja province. However, with the current socio-economic situation and the current stability in health matters, the sale of properties is slowly starting to rise.
What are the advantages of new development over second-hand property in La Rioja province?
The decision to buy a new development versus a second-hand property will be based on the buyer's direct needs. Urgency, for example, could be a decisive factor. At the moment, and given the current increase in demand in the real estate sector, it could be considered a good time to buy a new construction home, since developers are updating their catalogues to offer the best proposals.
In addition, buying a property not only provides us with a home but also a possibility of business by renting it out to a potential tenant.
Therefore, if the client is looking for a property to own, new construction will always offer the possibility of studying the space without being contaminated by the previous owner's style. Therefore, they will have the option to decorate it according to their preference without having to hire an external company to empty the space.
Where to buy new development in La Rioja province?
In La Rioja province, there are different locations where new developments can be purchased, so the client should evaluate the location, the condition of the property and the price to make the best decision based on their needs.
In Logroño capital, there are new propertis projects valued at €123,000. In the Laredo area, south of the capital, prices range from €86,000 to €360,000. As the kilometres from the centre of the province increase, as is the case in Galilea, costs decrease significantly, with homes valued at €30,000 available.