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New off-plan properties see a surge in demand in Spain

New-build homes offer the latest designs, building processes, style and quality, and it is not surprising that off-plan property is gaining momentum on the Spanish property market.

According to Daniel Cuervo, general secretary of the Spanish Association of Builders Promoters, 70% of newly developed properties were sold in the first nine months of this year.

Unlike properties built 15+ years ago, developers now focus on quality rather than quantity. New builds are often characterised by large open-plan living spaces and individually designed floor plans to suit the clients´ needs. They are energy efficient, and will also be hassle free to rent out given the new laws requiring properties to fulfil strict health and safety requirements.

The surge in demand is coming from a younger national public encouraged by a recovering economy and improving finances. The International Real Estate fair in Madrid saw the majority of sales transactions go to off-plan property and construction in prime areas such as Barcelona, Madrid and the Costa del Sol continues to increase.

Investing in new developments also offers the purchaser better payment terms - between a €6,000-€10,000 reservation fee, deposit (secured with bank guarantee/insurance) and the remaining balance in 15-24 months. Developers are also often able to offer financing with good terms and the properties are covered under a developers guarantee for usually up to 10 years.

Domus Venari can offer you a large selection of new build properties on the Costa del Sol: apartments within walking distance to the beach, modern developments with sea-view apartments or contemporary villas at great prices.

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