The number of Spaniards considering investing in new construction is on the rise

The countdown to 2024 has begun, and the annual reports on the real estate market are starting to reveal key findings. We highlight the report “ New construction housing in 2024”, by Fotocasa Research, which presents revealing data on the growing interest in Spain for new construction.

In today’s article, we explore its most interesting conclusions.

Interest in new construction continues to grow

In 2024, the interest in buying new homes continues to increase. According to the analysis, 65% of buyers in the last twelve months have considered the option of purchasing a new-build property, up from 64% in 2023 and 61% in 2021.

To what factors is this increase associated? Mainly to the perception of greater comfort, sustainability and quality in this type of housing.

Of course – although the demand for housing is growing – the price remains a challenge. María Matos, director of studies at Fotocasa, points out:

“The industry faces difficulties in adjusting prices due to the scarcity of land, the cost of materials and the lack of labor. However, demand persists, especially because new homes meet expectations of sustainability and comfort, values that are increasingly sought after.”

Stability in exclusive interest in new construction in Spain

20% of buyers are looking exclusively for new homes, a figure that has remained stable compared to 2023 and reflects the constancy of this segment.

In addition, 45% of buyers value both new and second-hand homes, surpassing the 40% observed in 2021 and approaching the 49% of 2022.

Madrid and the Valencian Community, key regions

The demand for new construction in Spain varies between regions:

• In Madrid, 22% of buyers are looking exclusively for this type of property.
• In the Valencian Community, 18% share this preference, being the region where a higher percentage of buyers also value the second-hand option.
• Andalusia, on the other hand, has shown a decrease in the exclusive interest in new construction, from 24% to 16% in the last year.

Buyers between 35 and 44 years old are the most interested in new construction in Spain

By age group, buyers between 35 and 44 years old lead the interest in new construction, with 73% considering this option. This segment experienced an increase of five points over the previous year.

They are followed by buyers between 25 and 34 years of age, who register 63% interest in new construction, although with a slight decrease compared to 2023.

Find the home of your dreams in Barcelona and Madrid

We have just seen how the new build market in Spain continues to consolidate as an attractive option. This 2024 marks a positive trend, with an increasing number of Spaniards valuing the benefits of investing in new homes.

Are you one of them? In KM2 Real Estate Services we have a wide range of new homes for sale and rent.

Would you like to see them all? We invite you to do it now here.

Do not hesitate to contact us or visit us in our agencies in Barcelona or Madrid.