New houses and developments in Zaragoza
New developments in Zaragoza
Currently, almost a hundred new developments are located in the province of Zaragoza, whether under construction, off-plan or already delivered. More than 90% of the supply is located in the metropolitan area of the capital, Zaragoza.
Within the city itself, there has been a change in trend regarding the areas chosen for construction. According to the latest licenses granted by the City Council and the subsequent constructions, developers and real estate agents have opted in recent years not to build new neighborhoods on the outskirts, but rather in the traditional and more central areas.
The cheapest new construction square meter is located in Campo de Cariñena and Terrer, both with a price per square meter of around 500 euros, followed by the areas of Ciudad Jardín, Rosales del Canal, and Cuarte de Huerva in Zaragoza capital, where the price per square meter increases to 1,500-2,000 euros. The most expensive area in Zaragoza is Ruiseñores and Miralbueno, on the outskirts of the city, with a price per square meter of around 3,200 euros.
Where is the largest volume of new developments under construction located?
The towns in the province of Zaragoza with the largest part of the new construction supply are: the metropolitan area of Zaragoza, Cinco Villas, and Campo de Cariñena.
What influences the price of new property in the province of Zaragoza?
The supply and demand in the real estate market in the province of Zaragoza is one of the main factors that directly affects the price. Proximity to leisure areas, shopping centers, green spaces, universities, and good connections with the different districts of Zaragoza are some of the characteristics to consider when determining the value and price of new construction. Additionally, the economic situation of the province, the average purchasing power, the rate of the active labour force, foreign investment, and annual tourist visits are also important factors.
In terms of the qualities of the developments themselves, construction materials, size of the property, orientation, and energy-saving installations are crucial, such as solar panels, double-glazed windows, central heating, or thermal finishes. Additionally, the extra services offered within the complex, such as parking, storage, gym, sports courts, swimming pool, or playgrounds, are important.
What is the new construction real estate market like in the province of Zaragoza?
The new construction real estate market in the province of Zaragoza has remained very active over the years. The continuous supply and demand make it one of the most dynamic provinces in terms of transactions of new properties in the northeast of the country.
According to data from tenders approved by the Ministry of Transport, Mobility, and Urban Agenda for the province of Zaragoza, the evolution has been very positive. In thousands of euros, residential construction in 2017 had an investment of over 645,000 euros, more than 650,000 euros in 2018, and almost 660,000 euros in 2019. In 2020, it amounted to more than 1,100,000 euros and to 1,900,000 euros in 2021.
Despite the growth in figures, more than 90% of the developments are still located in the provincial capital. The difference is that new constructions have started in other neighborhoods such as San Jose, Las Delicias, the university area, or the old town, rather than in the outskirts as in previous years. This has resulted in modernization of these areas, thanks to the new buildings and services offered, such as swimming pools, garages, and storage in the city center.
What are the advantages of buying a new development compared to a second-hand property in the province of Zaragoza?
The high demand and popularity of new-build properties in the province of Zaragoza speak for themselves when it comes to the preferences of the population and foreign investors. In recent years, new developments have become the first choice when it comes to buying a property.
The guarantees and security offered by a construction company and real estate agency, the reduced costs, and the fact of being the first to live in the property are some of the main advantages of new-build properties over second-hand ones. In addition, new properties are equipped with elements to ensure the energy efficiency of the home, the latest technology, video surveillance, and the installation of renewable energies, such as solar panels. Common extras such as garages, storage rooms, pools, gyms, or green areas are also essential factors to consider when making a decision between the two types of homes. Second-hand properties may not always have these features, and even may require partial or total renovation before moving in.
Where to buy new developments in the province of Zaragoza?
The capital of the province, Zaragoza, has the largest number of new developments. The cheapest area to buy a new-build property is Montecanal, where apartments start at 140,000 euros for 87 square meters, including a garage. Ribera Alta del Ebro offers chalets of 130 square meters for 150,000 euros. In the city center, the prices go up to 640,000 euros for 190 square meters, which is the most expensive property in the province. In the San Pablo area of Zaragoza, apartments range from 160,000 euros for 57 square meters up to 200,000 euros for 70 square meters with a terrace. In Casablanca, near the La Romareda stadium and the main hospitals of Zaragoza, properties are priced at around 265,000 euros for 90 m2.