610 New build promotions in Madrid Province

New Construction in Madrid Province

Throughout Spain, there are 4,424 promotions actively being marketed, and in the province of Madrid, there are 610, which represents approximately 15% of the national total. Just in the capital, there are more than 250 projects underway. The average price per m² is around €3,800 across the province of Madrid. The highest prices are found in the capital itself, in popular and sought-after districts like Salamanca, Chamberí, or El Retiro, where luxury new construction homes prevail and prices hover around €5,800/m². These values become more affordable the further we move from the center, as in locations like 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 located in the city of Madrid, which is growing in all directions. Notable developments include El Cañaveral within the Southeast Strategy and the ambitious Madrid Nuevo Norte project, which will significantly transform the real estate market in the coming years. Currently, Madrid capital leads with 38.6% of the total promotions in the province, with 255 projects underway. It is followed by Alcalá de Henares with 4.1% and 27 promotions, Pozuelo de Alarcón with 3.9% and 26 promotions, and Las Rozas de Madrid with 3.5% and 23 promotions. Other notable municipalities include Boadilla del Monte and Colmenar Viejo, each with 20 promotions, Valdemoro and San Sebastián de los Reyes with 17, and Torrejón de Ardoz with 13 promotions. Getafe has 12 promotions, while Villalbilla and Villaviciosa de Odón have 11 and 10 promotions, respectively.

Localities with the Highest Number of New Construction Homes

Currently, the municipalities with the highest 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 southern area of the community: Getafe, Valdemoro, Alcorcón, Móstoles, Parla, Pinto, and Leganés.
• In the so-called Henares Corridor: Alcalá de Henares, Torrejón de Ardoz, Meco, Coslada, and Loeches.

Main New Construction Projects in Madrid

• Madrid Nuevo Norte: This colossal promotion, considered the largest urban project in Europe, began in early 2021. It involves the creation of over 3 million m² north of the Chamartín district. A total of 10,500 homes will be built, with the first expected to be delivered by 2026.
• El Cañaveral: This is one of the neighborhoods with the most expansion in Madrid. Around 14,000 homes are planned, and over 6,000 have already been delivered. The main appeal for buyers is that it has much more affordable prices compared to the Madrid Nuevo Norte project. In this promotion, apartments, ground floors with gardens, and penthouses are predominant.

Factors Influencing New Construction Prices in the Community of Madrid

The price per m² of a new construction promotion in the community of Madrid mainly depends on the relationship between supply and demand. According to recent studies on the real estate market, demand is very high for this type of property, but there are not enough homes to cover it due to a shortage of developable land.

Additionally, the price of materials has increased significantly in recent years and continues to rise. Other factors include the location of the properties, size, materials used for construction, and finishes. The value will also depend on the services and facilities that the home offers, as the main buyers of new construction in Madrid seek open spaces, like gardens, 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 facilities is exclusively the buyer's responsibility. On the other hand, while belonging to a community of neighbors, the maintenance of common services is a community expense.

In Madrid province, the price of cheap new construction starts at 3 000 € because these properties do not enjoy exclusive views or amenities, while the average price is 690 174 € per new construction home; the average price of a second-hand property is 690 174 €, new and luxury homes can cost 17 500 000 €. These properties are expensive due to better views, quality, more m², or their location and exclusivity.

Advantages of Promotions by Delivery Year

The advantages of new construction promotions Madrid 2024 lie in the ability to enjoy the home immediately. However, if one wishes to obtain economic benefits, it is advisable to opt for projects in the initial stages of construction or off-plan, such as the promotions of new construction Madrid 2026. These promotions are usually between 20% and 35% cheaper. Additionally, considering the purchase of homes in cooperatives can result in an additional saving of 15% to 20%.

Advantages of New Homes Over Second-Hand Ones in the Province of Madrid

According to the report “Profile of new home buyers in 2021” conducted by Fotocasa, the main reason for investing in new construction Madrid 2025 and in general, especially for young people acquiring their first home, is not having to do renovations. The second reason is energy efficiency, relevant for current buyers as it leads to cost reductions.

In recent years, buyers have been looking for homes that offer facilities and common areas that increase their quality of life. Therefore, developers are taking this into account when designing new properties. It is not difficult to find promotions that offer green areas, spaces for sports, or pools, which increases the value of those homes.

Where to Buy New Construction in Madrid?

In the community of Madrid, the expansion of the metropolitan area of the capital has concentrated the largest number of new construction projects around the almond of the M-30.

However, it is also possible to find newly built homes in other regions of Madrid, albeit with less supply. The largest volume is in the Henares Corridor area, in locations like 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 promotions for single-family homes.

Next is the southern area in locations like Getafe, Móstoles, or Valdemoro. Prices for apartments, penthouses, and duplexes start from €190,000 and can reach nearly €600,000, as is the case in Getafe. Regarding horizontal construction, the largest supply is found in Valdemoro, with prices around €360,000.

In the northwest area of the Community of Madrid, most of the promotions are located in Pozuelo de Alarcón, one of the most expensive areas in Madrid. The price range for vertical constructions starts at €280,000 and exceeds €1,550,000. In the case of independent homes, prices range between €750,000 and €1,290,000.