943 New developments in Madrid Province

New Developments in Madrid Province

Throughout Spain, there are 4,424 developments actively being marketed, and in the province of Madrid there are 8090, which represents approximately 15% of the national total. In the capital alone, there are more than 250 projects underway. The average price per m² is around 3,800 € throughout the province of Madrid. The highest prices are found in the capital itself, in popular and sought-after districts such as the Salamanca district, Chamberí or El Retiro, where luxury new-build homes predominate and prices are around 5,800 €/m². These values become more affordable the further away from the center, as in towns such as Villaviciosa de Odón, where the average price is 1,780 €/m², or Móstoles, which is around 2,100 €/m². These costs increase in more popular municipalities, such as Alcorcón, Boadilla del Monte, Galapagar or Collado Villalba, where they already exceed 3,200 €/m².

State of the New Construction Real Estate Market in Madrid Province

The main new construction projects are in the city of Madrid, which is growing in all directions. Of particular note is the development in El Cañaveral as part of the Southeast Strategy and the ambitious Madrid Nuevo Norte project, which will significantly transform the real estate market in the coming years. Currently, Madrid city leads with 38.6% of the total number of developments in the province, with 255 projects underway. It is followed by Alcalá de Henares with 4.1% and 27 developments, Pozuelo de Alarcón with 3.9% and 26 developments, and Las Rozas de Madrid with 3.5% and 23 developments. Other municipalities of note include Boadilla del Monte and Colmenar Viejo, with 20 developments each, Valdemoro and San Sebastián de los Reyes with 17, and Torrejón de Ardoz with 13 developments. Getafe has 12 developments, while Villalbilla and Villaviciosa de Odón have 11 and 10 developments, respectively.

Towns with the largest number of New Construction Homes under Construction

Currently, the municipalities with the greatest supply in the province of Madrid are:

• In the northwest of the community: Boadilla del Monte, Pozuelo de Alarcón, Las Rozas, Collado Villalba, Majadahonda and Villaviciosa de Odón.
• In the north: San Sebastián de los Reyes, Colmenar Viejo and Alcobendas.
• In the south of the community: Getafe, Valdemoro, Alcorcón, Móstoles, Parla, Pinto and Leganés.
• In the so-called Corredor del Henares: Alcalá de Henares, Torrejón de Ardoz, Meco, Coslada and Loeches.

Main New Construction Projects in Madrid

• Madrid Nuevo Norte: This colossal development, considered the largest urban development project in Europe, began at the beginning of 2021. It involves the creation of more than 3 million m² in the north of the Chamartín district. A total of 10,500 homes will be built, with the first homes expected to be delivered by 2026.
• El Cañaveral: This is one of Madrid's fastest expanding neighborhoods. It has around 14,000 homes planned, and more than 6,000 have already been delivered. The main attraction for buyers is that it has much more affordable prices than the Madrid Nuevo Norte project. In this development, apartments, first floor apartments with gardens and penthouses are the most popular.

Factors Influencing the Price of New Construction in the Community of Madrid

The price per square meter of a new development in the Community of Madrid depends mainly on the relationship between supply and demand. According to recent studies on the real estate market, the demand is very high for this type of property, but there is not enough housing to cover it due to the scarcity of developable land.

In addition, the price of materials has increased considerably in recent years and continues to rise. Other factors include the location of the properties, the size, the materials used for construction and the finishes. The value will also depend on the services and facilities offered by the property, as the main buyers of new construction in Madrid are looking for open spaces, such as gardens, swimming pools and terraces.

It is important to consider whether the property is independent or belongs to a community of neighbors. In the first case, the maintenance of the property and its facilities is the sole responsibility of the buyer. On the other hand, if the property belongs to a community of neighbors, the maintenance of the common services is a community expense.

In Madrid province the price of cheap new construction starts at 1 200 € is because these properties do not enjoy the views or exclusive amenities while the average price is 644 808 € for new construction while the average price of a second hand property is 535 059 €, new homes and luxury homes cost 13 090 000 € these properties are expensive because of the best views, qualities, more m2 or its location and exclusivity.

Advantages of Developments according to the Year of Delivery

The advantages of the new developments Madrid 2024, lie in the possibility of enjoying the property immediately. However, if you wish to obtain economic benefits, it is advisable to opt for projects in the initial stages of construction or off-plan, such as the new developments Madrid 2026. These developments are usually between 20% and 35% cheaper. In addition, considering the purchase of homes in cooperatives can result in additional savings of 15% to 20%.

Advantages of New versus Second Hand Homes in the Province of Madrid

According to the report "Perfil de comprador de obra nueva en 2021", carried out by Fotocasa, the main reason for investing in new construction in Madrid 2025 and in general, especially for young people buying their first home, is not having to carry out renovations. The second reason is energy efficiency, which is relevant for today's buyers as it leads to a reduction in costs.

In recent years, buyers have been looking for homes that offer facilities and common areas that enhance their quality of life. As a result, developers are taking this into account when planning new properties. It is not difficult to find developments that offer green areas, spaces for sports or swimming pools, which increases the value of these homes.

Where to Buy New Construction in Madrid?

In the community of Madrid, the expansion of the metropolitan area of the capital has concentrated most of the new construction projects around the M-30 ring road.

However, it is also possible to find brand new homes in other areas of Madrid, although with less supply. The largest volume is in the Corredor del Henares area, in towns such as Torrejón de Ardoz, Alcalá de Henares or Coslada, where prices range between €190,000 and €500,000. In this area, vertical construction predominates, although there are also developments of single-family homes.

It is followed by the southern area in towns such as Getafe, Móstoles or Valdemoro. Prices for apartments, penthouses and duplexes start at 190,000 €, and can reach up to 600,000 €, as in the case of Getafe. As for horizontal construction, the largest offer is in Valdemoro, and prices are around 360,000 €.

In the northwest area of the Community of Madrid, most of the developments are located in Pozuelo de Alarcón, one of the most expensive areas of Madrid. The range of prices for vertical constructions starts at €280,000 and goes up to over €1,550,000. In the case of detached homes, prices range from €750,000 to €1,290,000.