New houses and developments in Teruel
New developments in Teruel
The province of Teruel currently has one of the lowest figures for new building projects in the peninsula, not exceeding 10. This is due to the fact that it is one of the Spanish autonomous communities suffering from depopulation. Contrary to what one might expect, it is not in the capital, Teruel, where the majority of these projects are located, but in Albarracín, the most famous mountain and ski area in the region, where the Valdelinares ski resort is located.
The cheapest price per square meter in the province of Teruel, with an average of 1,400 euros, is found in Alcalá de la Selva. In Albarracín, the highest average price is recorded, at 1,800 euros and 2,200 euros in the same mountainous area.
Which localities have the largest amount of new build properties under construction?
Currently, in the province of Teruel, the localities with the largest volume of new build properties are Albarracín and the capital, Teruel.
What influences the price of new development in the province of Teruel?
Generally, the price per square meter of a new property in the province of Teruel depends on the real estate market. Supply and demand, job opportunities, the economic situation of the province, and investment and/or tourist opportunities all play a role.
Specifically, since 90% of the new building projects in Teruel are located in mountainous and ski areas in winter, the most important factors are the features aimed at mitigating low temperatures. That is facades with thermal and acoustic insulation, windows for enjoying the scenery with solar filter and double glazing, and central heating installation. As additional features to consider: underfloor heating, private security, or a space in the home for storing skis and sports equipment.
Regarding the construction of the property, orientation, spaciousness, materials, finishes, furniture, and appliances are all important factors. In these remote areas far from commercial zones, it is essential that the properties are delivered furnished. Moreover, common areas provide an opportunity for leisure among all residents in the complex. They can include a club, ski school, outdoor sports courts, children's areas, gym, or spa. The audience that acquires these properties seeks to have the maximum possible comforts near their home.
If one is interested in buying a new property in the province of Teruel, it is recommended to make the purchase off-plan or in the early stages of construction, so that the final cost is lower.
What is the new construction real estate market like in the province of Teruel?
New developments in the province of Teruel represent an opportunity for expansion in the area, including employment opportunities, population growth, and an influx of money into the region.
Currently, there are various citizen movements, such as "Teruel exists," that seek to promote initiatives to prevent depopulation in the interior and attract new residents to both the capital and surrounding municipalities. All of these actions are a great opportunity for more new properties to be built in Teruel in the future.
The ones currently offered, 95% of which are in the mountainous area of Albarracín, are aimed at becoming a second home for residents of other autonomous communities or foreigners who want to enjoy the ski season and be in constant contact with nature. Additionally, this area is located just 1.5 hours from Valencia, for example, making it a strategic point for enjoying both the sea and the mountains.
These are new build properties with a very modern style, almost luxury features, acquired by a high-income audience, with a very family-oriented and especially sports tourism. They are located far from commercial, work, and leisure areas.
The topography of the area and the difficulties of access make it difficult to frenetically increase new construction in the town, maintaining a stable market for developments year after year.
What is the importance of buying new construction apartments compared to second-hand houses in the province of Teruel?
The altitude and temperatures of Albarracín, the municipality where most of the province's offer is concentrated, make it almost impossible to acquire and renovate a second-hand home. Why? Areas where in winter it is only possible to access with chains or special vehicles, as well as being more than 50 kilometres from the nearest commercial area.
For foreigners and residents of other autonomous communities, one of the target audiences for new construction developments in Teruel, it would be a daunting task to acquire a second-hand home and manage everything on-site. Continuous trips, and unfamiliarity with services in the area (notary, real estate, or renovations) that would be needed to get it ready, would increase the initial price almost twice as much. And of course, it would still be much higher than a newly built property.
In addition, new properties offer very superior and state-of-the-art features for the area in which they are located, such as thermal insulation materials throughout the house, including heated floors, renewable energy systems, and video surveillance for when the house is unoccupied. As well as total or partial customizations on the plan or last minute. As for common areas, they have added comforts such as a garage, children's areas, gym, paddle tennis courts, or spa.
Where to buy new development in Teruel province?
New developments in Teruel province are divided into two areas: Teruel City and the Albarracín area. In these areas, it is possible to find homes with different features and prices.
In the capital, Teruel, there is a predominance of flats aimed at families. They come with a storage room and garage included in the price, as well as common areas with gardens and playgrounds. Prices for a one-bedroom flat start at €110,000 and can go up to €210,000 for a three-bedroom flat with 113 square meters.
In Albarracín, you can purchase new build properties ranging from €145,000 to €300,000 for an 80 square meter semi-detached house. These are properties with Nordic-style designs, made of stone or wood, and with extra amenities in the common areas that are not common in other provinces such as mountain clubs, cafes, ski academies, or play areas. All of them come with a garage and storage room included.