New houses and developments in Cantabria

New developments in Cantabria

The province of Cantabria currently has more than 75 new construction developments, which translates to a total of 1,315 homes, according to the Official College of Technical Architecture of Cantabria. In total, the surface area covered by these new construction homes exceeds 230,000 m². Cantabria is an interesting province to invest in new properties, as it enjoys great infrastructure and a coastline that has become a major tourist attraction in the last decade. In addition, it borders very important regions at the economic level (Asturias, Castilla y León and the Basque Country).

The lowest cost per square meter in the entire province is found in Los Corrales de Buelna, near Torrelavega, with a value that does not exceed €900/m². They are followed by Ramales de la Victoria, with a value that just exceeds €900/m². Above €1,000/m² are Torrelavega, Reocín, and Polanco. On the other hand, the highest average price in the entire province exceeds €2,000/m² in Santander, Ribamontán al Mar, Castro Urdiales, Laredo, and Noja. In all of these locations, there is a higher population density and great interest in new construction homes, either due to their location or the services they provide.

Where are new developments under construction located?

The municipalities with the highest volume of new construction developments in the construction phase or practically ready for marketing are Santander (more than 230 developments), Ribamontán al Mar (exceeding 100 properties), Santa Cruz de Bezana (also above 100 properties), Suances (almost 70), Castañeda and El Astillero (more than 50 each), Comillas (close to 50), and Laredo (over 30 properties).

In what beach areas are the main new construction developments located?

The most relevant new construction developments at the moment on the coast are located in developments in Santander, Suances, Comillas, Laredo, Santoña, Castro Urdiales, Ribamontán al Mar, and Santillana de Mar.

What factors affect the final cost of a new property in Cantabria?

As in the rest of the provinces, the price per m² of a new construction home is subject to the market situation, that is, the percentage of supply and demand at the time. This scenario is the main influencer in the final cost of a new construction property. However, there are other inherent characteristics of the property that also affect it. These include location, construction materials, home qualities, common services, facilities and/or technological systems it presents and its size. Also, other parameters such as the labour and/or economic situation of the region and the population density of the municipality also affect the final price, as they determine the demand for properties.

Regarding the specific aspects of the home, emphasis should be placed on common services. In recent years, almost all new residential complexes include some type of common feature, such as a garage, park, paddle court, swimming pool, or gym. This case should be studied, as it is not the same to acquire a community house or an independent villa. In the latter, the expense of any extra quality will be private, whereas in a shared urbanization, it will be shared and at a lower cost. Therefore, if you are very interested in buying a new construction home, it is highly recommended to make the purchase when the development is still in the planning stage. If that is not possible, it is advisable to make the purchase in the early stages of construction. This way, the final price can be reduced by up to 30%.

What is the place of new developments in the real estate market in the province of Cantabria?

The entire region of Cantabria ended last year, 2021, with more than 700 new homes initiated. This represents a decrease of almost 30% compared to the previous year. In 2022, there are more than 1,300 newly-built homes approved, which translates into an increase of over 70% compared to 2021 and just over 20% compared to 2019. These figures demonstrate that the growth of new construction promotions in the province of Cantabria is gradual, with an average of more than 300 new homes quarterly.

The inland regions, such as Campoo, Pas-Miera Pisueña and Asón-Agüera, have grown the least in the last year in terms of new constructions. On the other hand, those near the coast, such as Costa Ocidental, Santander and Trasmiera, have maintained levels from previous years and are where most of the new construction promotions are concentrated.

What does new development offer compare to the second-hand property in the province of Cantabria?

The 2022 data shows that the new buildings real estate sector is on the rise after the latest crises experienced in the country in the last decade. In the province of Cantabria, construction has concentrated in the areas of the Cantabrian Sea coastline. These properties are a guarantee of purchase when compared to second-hand properties. This is because the materials are more energy-efficient, resulting in savings for the buyer. In addition, these homes have the capacity for personalization, as they are newly built. They also include other features such as a garage, pool, park, or paddle court, which most second-hand properties do not have. This, in turn, results in an increase in the value of the properties.

Returning to the thread of energy efficiency, new constructions present technologies related to renewable energy, such as solar panels, a very attractive factor for new consumers.

Where to buy new development in the province of Cantabria?

Santander is one of the provinces on the Cantabrian Sea that has the largest volume of new homes near the coast, as shown by its association of surveyors. Most developments are located in Santander, Suances, Comillas, Laredo, and Ribamontán al Mar. In these municipalities, the price is higher, and a new home can be purchased from €100,000 up to over €1,000,000 for the most luxurious ones. These properties are mainly apartments or penthouses, becoming smaller apartments near the beach.

In the inland regions, the price of a new property can start at €50,000-€60,000, especially in towns with a lower population density. In addition, these developments do not include many common services.