New houses and developments in León
New developments in León
The province of León has around 340 new homes. For 2022, a revaluation of properties between 4% and 5% is expected, as the average price in the province in the last quarter of 2021 was 3.6% higher than in the same period the previous year.
The average price of housing in October of last year was around €970/m², almost half of the Spanish average. León is one of the Castilian-Leonese provinces where the price decreased in October 2020, along with Salamanca (-0.19%), Palencia (-1.29%), and Burgos (-4.49%), according to pisos.com.
In the last two years, the average value reached its maximum cost in July 2020, with figures close to €1,100/m², while in April 2021, the average cost was around €1,050/m².
Currently, the town with the highest price per square meter is Calzada del Coto, with more than €1,900/m², followed by the municipalities of Bercianos del Real Camino, exceeding €1,700/m², and Regueras de Arriba, with more than €1,600/m², Destriana with a price close to €1,500/m², and the capital, which is around €1,400/m².
The average values per square meter in new build properties are located in Ponferrada, at around €750/m², with Valdefresno and Astorga very close in price. In the municipalities of Villanueva de las Manzanas and La Ercina, prices are around €620/m² and €550/m², respectively. Meanwhile, in Riaño, the square meter has a cost of around €400/m², and in Igüeña, a little over €300/m².
Which municipalities have the highest volume of new developments?
Currently, the towns with the highest volume of new developments in the province of León are León capital, Ponferrada, Villaquilambre, Riaño, and Sariegos.
What factors influence the final cost of a new property in the province of León?
In the province of León, the price per square meter of new build properties generally depends on supply and demand, as in most parts of the country. The location, proximity to infrastructures and services such as shopping areas and green areas, schools, leisure areas, public transportation, and community facilities, as well as the quality of finishes, orientation, and height, are factors that influence the value of properties.
The economic and labour situation of the municipality, population density, foreign investment, and tourism in the area are also components that affect the price of housing. It is essential to mention common services, as buying an apartment in a development is not the same as buying an independent house or villa, in the first case, the cost is shared, while in the second, it is private and personal.
One of the best options if interested in buying a new build home in the province of León is to do it while it is still in the planning phase, that is, before construction starts. If that is not possible, it is recommended to make the purchase in the early stages of construction, as the price can be reduced by up to 30 %.
What is the new construction real estate market like in the province of León?
The province of León showed a year-on-year increase of 3.6% in house prices in the fourth quarter of 2021, indicating a positive evolution of the average value, as the cost in the same period in 2020 showed a decrease of 8.3%. Appraisals carried out by Tinsa in the first quarter of last year placed the average amount to be paid for this type of housing at just over €750/m².
The province of León started 2021 with around 8,027 homes, which represents 2.43% of its housing stock.
A report by Fotocasa in February 2022 indicates a monthly variation of 0.1%, a year-on-year variation of 1.8%, and a price per square meter of over €1,200 in the towns of the province, while in the capital, the monthly variation is 0.3%, the year-on-year variation is 2.0%, and the cost per square meter is around €1,300.
A project called "La Taiga León," about 6 km from the centre of the capital in Cueto del Moro, has begun a residential area of 25,000 m², with 551 plots for the construction of different types of homes. In addition to cycling circuits, pedestrian paths, and other children's facilities. The La Lastra area in the metropolitan area of the capital is also growing continuously, as is Sariegos. Ponferrada, in the El Bierzo region, is the town with the highest demand.
What is the importance of buying new development compared to second-hand property in the province of León?
The real estate market in the province of León is on the rise after the real estate crisis, focusing mainly on the metropolitan area of the capital and areas such as La Chantría - La Lastra and Sariegos. In addition, in municipalities such as Ponferrada, a region with a lot of tourism, due to being part of the Camino de Santiago route.
The guarantee of purchase offered by new build properties, compared to second-hand ones, derives from the possibilities of customization, security, quality of materials, and reliability of new construction. It also offers a reduction in costs and greater energy efficiency. The demand for houses and apartments with terraces or balconies has increased and is on the rise. The development of facilities and common areas that include gardens, a children's playground, and even a pool and gym. In some cases, these are features that have been enhanced in recent developments.
Where to buy new builds in the province of León?
In Ponferrada, currently the town with the highest demand, a new property in the centre has a cost between €112,300 and €128,300, or on the outskirts about 4 km from the centre, with 115 m² a duplex-type home for about €66,900.
In the capital city of León, the La Lastra neighbourhood or area in the south of the urban area is positioned as the area of growth and development, a new neighbourhood that has several urban development projects of houses planned, connected by the extension of an avenue with the city centre. A home of about 100 m² can cost around €300,000 in this area. In the area of the avenue, it is possible to purchase an apartment of 100 m² for €175,000. In the old town, prices are around €144,800. In the city centre, an apartment of about 90 m² can cost €277,000.
The most affordable regions or municipalities are San Andrés del Rabanedo,