I want to buy a new building: what are the benefits?

Situation of new construction in Spain

Since 2020, the demand for new-build housing has increased (both for permanent and second homes) in the most exclusive areas of Spain (for both permanent and second homes) in the most exclusive areas of our country. During 2022, this market segment faced a large imbalance between supply and demand, with more people looking for housing than the number of available properties.

In 2022 Engel & Völkers offered almost 3,000 homes in 50 developments, allowing buyers and investors to identify which enabled buyers and investors to successfully identify their needs.

According to the Engel & Völkers Market Report Spain and Andorra 2022-2023the area with the highest demand was the Costa del Sol, where our firm marketed 20 developments with more than 1,200 homes. Other cities with the highest demand for new developments were Madrid, Barcelona and Valencia.

What is happening in Andorra?

In terms of new-build properties in Andorra, Engel & Völkers markets 10 developments, with prices ranging from 5,600 euros/m2 in Escaldes-Engordany to 3,800 euros/m2 in Sant Julià. The most important of these is The White Angel, located in the capital, which consists of flats built to the highest standards of quality and comfort: a development with 24-hour security, underground parking, spa and gymnasium, among other services.
In terms of typology, buyers are mainly looking for homes for permanent use with parking and storage room. Only in La Massana are homes with more than 400 square metres of floor space, with several bedrooms and a garden in demand. In Andorra la Vella, purchases for permanent residence and second homes are on the rise.

What is the current trend in new construction?

Since the beginning of the COVID-19 pandemic, the trend in what users are looking for in new builds has been changing, moving towards a wellness design or design focused on the wellbeing and health of its inhabitants.
In this sense, the following aspects are prioritised:

• Open spaces and outdoors: for example, large windows, balconies or patios that allow contact with the outdoors without the need to leave the house.

• Spaces in contact with nature: since the pandemic, the natural environment is more highly valued, so homes in green spaces and with good light, fresh air intake and spacious exteriors are sought after.

• Home automation: in order to make everyday life easier and also to save energy. Most commonly, home automation equipment and artificial intelligence devices are sought in new constructions.

• Sustainable design: after the outbreak of the health and social crisis, environmental awareness has been growing. In this way, less environmental impact is sought, with the use of natural, non-polluting materials and the use of sustainable energy.

Benefits of buying new

If you are thinking of buying a home, you are probably considering whether to buy a second-hand home or a new one. Over the last year there has been a growing trend towards the latter. But what are the reasons? What advantages do new-build homes offer over second-hand ones?

• Personalised housing to suit the buyer's taste. When buying a new-build home, it is not necessary to carry out renovations, and it is easier to find one that adapts to everything that the buyer is looking for in the first instance. In addition, it is common for them to have home automation systems.

• More energy efficiency: as they incorporate more efficient and environmentally responsible energy systems, such as heat pump underfloor heating or photovoltaic solar panels.

• Sustainable and higher quality materials. The materials used are of a higher quality than those used in constructions of 10 or 20 years ago, being more durable over time and more insulating. They are also more sustainable and less polluting, which guarantees a lower environmental impact.

• Good location. It is common for new construction to be located in residential areas with good public transport links and nearby services.

• Revalued homes. As they have not been owned by any owner, the value of new-build homes is revalued in many aspects, as, on entering, everything will be new: materials, furniture..

• Common outdoor areas. New constructions include common areas and services that are highly valued by the owners, such as garage, storage rooms, swimming pool or garden.

If you are looking for a new-build property to suit your needs, do not hesitate to visit our website and consult our extensive catalogue of properties. Similarly, if you would like more information about any of the properties available at Engel & Völkers, you can contact our agents by visiting your nearest E&V shopwe will be happy to help you!