New houses and developments in Zamora
New developments in Zamora
Currently, in the province of Zamora, there is an offer of no more than 3 new developments, which give rise to 30 homes, including those already completed and those under construction. Zamora is the province with the lowest percentage of approved new construction permits in all of Spain. According to the National Institute of Statistics (INE), there are 0.8 permits to build new developments per capita (per 1,000 inhabitants). This is a very similar figure to other provinces nationwide such as Ourense, Cadiz, or Huelva.
In the centre of Zamora, the cheapest and most expensive square meters are located. It ranges from 1,200 to 1,700 euros/m². The average price is located on Ctra. de Villalpando, where the value per square meter is around 1,300 euros.
What factors influence the price of new property in the province of Zamora?
In the province of Zamora, in addition to supply and demand, there are other factors that influence the determination of the price of new construction homes, such as the economic and labour situation, population density of the province, tourism, or foreign investment.
Regarding the characteristics of the building, square meters, number of rooms, or location are the factors that determine the final value of the property.
Common areas have also become a differentiating and highly influential element regarding the price of new construction developments. Having a garage and storage room, outdoor courts, pool, or children's areas varies the prices. Maintaining a pool annually, especially during the summer season, is not the same as maintaining a tennis court, for example.
If you are interested in buying a new development in the province of Zamora, it is recommended to buy off-plan or in the early stages of construction, as the final cost can be reduced by up to 30%.
What is the situation of new developments in the real estate market in the province of Zamora?
New developments in the province of Zamora have undergone a transformation in recent years. Before the real estate crisis exploded, in Zamora, according to data from the College of Technical Architects, more than 90% of the permits issued were for the construction of apartment buildings. But starting in 2019, the trend shifted towards single-family homes, where the number of constructions of this type of property began to grow to 70% apartment buildings and 30% single-family homes. This preference was consolidated in 2020 when there were 44 permits for over 122 single-family homes and only 10 apartment buildings. In 2021, the numbers favoured single-family homes again. In fact, in the first quarter, 54 new construction projects for single-family homes were approved in the province of Zamora, and none for apartments.
Despite these figures, the sale of newly built properties in the province of Zamora remains low, but with small annual increases. In 2020, 50 new developments were acquired out of a total market of 899, which represents 5% of the total. In 2021, they rose to the sale of 99 new construction properties out of a total of 1,274, going from 5% in 2020 to 8% of the total in 2021.
What is the importance of buying new developments compared to second-hand properties in the province of Zamora?
The fact that Zamora is the Spanish province with the least offer of new build developments makes these properties a scarce and, consequently, highly valued product for local and/or foreign customers.
The guarantee of owning a brand new property, making modifications or customizations before the delivery of keys, is one of the main incentives for choosing new build properties over second-hand ones. The latter always requires some type of work or change and, unfortunately, not everyone can manage it.
In addition to that, current construction materials or finishes are far superior. Added to this are the elements to turn properties into more energy-efficient places, reducing electricity and/or gas bills month after month. Even, more and more residential complexes are installing solar panels. It should also be noted that most of these types of new build properties built in the province of Zamora include other community services, such as garages, pools, paddle tennis courts or even gyms.
Where to buy new developments in Zamora province?
Currently, the supply and demand in the province of Zamora is only located in the provincial capital. The lowest and highest prices are found in the centre of Zamora, where a 38 m² new build property can be acquired for 70,000 euros or a 67 m² one for 95,000 euros. The most expensive flat in this area and in the entire province has 2 bedrooms and 69 square meters, for 110,000 euros. The offer of chalets is located in the Crta. Villalpando, where the houses are priced at 175,000 euros - 195,000 euros. All of them have a terrace, and garage included, with a surface area ranging from 126 m² to 143 m².