New houses and developments in Rincón de la Victoria
New developments in El Rincón de la Victoria
Rincón de la Victoria is so close to the capital of Malaga that some professionals already consider it part of the metropolitan area. Its real estate, service, and population expansion make it one of the 10 municipalities with the most residents in the province, with more than 50,000 inhabitants, according to the National Institute of Statistics.
Currently, there are 11 new construction developments, including completed ones and those under construction. A figure very similar to other Spanish municipalities such as Torrejón de Ardoz (Madrid), Calpe (Alicante), or Badalona (Barcelona). According to the latest data on the new construction market published by the Ministry of Transport, Mobility, and Urban Agenda, the value of its square meter grew by 9.04% in the last year, currently standing at almost €2,200/m².
The average prices per square meter in its 5 most relevant districts are:
- Rincón, over €2,150/m².
- La Cala del Moral, around €2,300/m².
- Cortijos, above €2,150/m².
- Torre de Benagalbón, around €2,200/m².
- Añoreta, around €1,800/m².
Where is the largest volume of new construction projects concentrated?
Currently, the neighbourhoods with the largest volume of new construction projects in El Rincón de la Victoria are:
Los Cortijos. 70% of the new homes are located on the outskirts, which is an indicator of the municipality's significant expansion. This is a very popular area due to its excellent road connections to neighbouring towns, the centre of Malaga, the high-speed train station, and the international airport. The properties built here are not particularly focused on tourism or the summer season but rather on becoming permanent residences.
Benagalbón. Golf courses, educational centres, leisure, restaurants, supermarkets, and countless services are all located in the coastal area. Here, newly constructed homes located near the sea are in residential complexes with a pool, outdoor paddle tennis courts, and a children's play area, among others.
What influences the price of new construction in the city of El Rincón de la Victoria?
In general, the cost per square meter of a recently constructed development in El Rincón de la Victoria varies depending on supply and demand, as well as other external factors such as the active population, economic situation, tourism, and foreign investment.
Regarding the property, the location, square meters, and extra services and common facilities are the main factors that increase the final price of the new property. It is not the same to buy an apartment on the beachfront as it is on the interior, or whether it is a residential development or a complex of semi-detached houses. All the costs of the first residential property are assumed communally, while in the second case, they would be private.
What is the situation of new construction projects in the real estate market in the city of El Rincón de la Victoria?
Due to its proximity to Málaga, this municipality is experiencing growth and expansion, which is consolidating the market for new properties in the area. In fact, both the number of transactions and the value per square meter have been increasing in recent years.
According to data collected by the Ministry of Transport, Mobility, and Urban Agenda, in 2019 the total sales of new homes in Rincón de la Victoria grew from 145 in 2019 to 194 in 2022. As for the value per square meter, the price was €1,792/m² in 2019, €1,869/m² in 2020, €1,903/m² in 2021, and reached €2,100/m² in 2022.
What is the importance of buying new developments compared to second-hand properties in the city of El Rincón de la Victoria?
Year after year, the purchase of new homes in this locality increases gradually and steadily, which results in a decrease in the purchase of second-hand properties. It is undeniable that owning a brand new home is one of the main reasons for acquiring these types of properties, especially for foreigners who decide to settle on the Costa del Sol. Being able to move in right after the keys are handed over is a privilege compared to second-hand houses, which always require some partial or total renovation.
On the other hand, new properties offer the possibility of making modifications and customization before they are handed over to the final owner, as well as reducing costs with more sustainable and energy-efficient materials such as solar panels or aerothermy.
It is essential to highlight the common areas, which undoubtedly make a big difference. The installation of outdoor paddle tennis courts, green areas, playgrounds, or a swimming pool substantially increases the value of recently constructed residential complexes.
Where to buy new developments in the city of El Rincón de la Victoria?
The majority of the new build housing supply is located on the outskirts of the municipality and in the coastal area of Benagalbón. This is one of the areas on the Costa del Sol where the demand for properties is higher inland than on the beach, due to its close proximity to the city of Malaga. This has turned this municipality into almost an extension of the city.
On the outskirts, in the Cortijo, are the largest apartments and flats in the town. These complexes are located in the mountains, with sea views and good accessibility by road. It is possible to buy a 3-bedroom apartment of 146 square meters for 276,000 euros, a 4-bedroom apartment of 163 square meters for 335,000 euros, up to 3-bedroom penthouses for 425,000 euros.
Those looking to purchase a house on the first or second line of the beach should head to Torre de Benagalbón. In this district are the residential complexes closest to the Costa del Sol. Prices start at 183,000 euros for a 2-bedroom apartment of 70 square meters, 3-bedroom apartments of 96 square meters for 211,000 euros, up to semi-detached houses of over 180 square meters and 3 bedrooms for a value of 380,000 euros.