21% Of Home Buyers Are Only Looking For New Construction

61% of those who have bought a home in the last twelve months have considered the option of new construction, a percentage that has fallen from 68% in 2020. However, those who have only looked at that option have increased from 18 % of 2020 to 21% this year , according to the report Profile of the buyer of new construction 2020-2021, carried out by Fotocasa Research. This indicates that buyers are increasingly focused on this segment.

The report indicates that there has been a decrease of ten points in those who have searched both in the second-hand market and among new promotions. They have gone from being 50% in 2020 to 40% in 2021.

The new construction housing boom resurrects the real estate corpses of the 2008 crisis
The new construction housing boom resurrects the real estate corpses of the 2008 crisis

“The percentage of citizens looking only for new construction housing is increasing. The boom in new construction is a phenomenon that occurs just one year after the outbreak of Covid-19 in our country. Now, housing preferences have changed and with They are the essential requirements regarding the new characteristics that a home must meet, such as spaciousness and outdoor areas. Everything related to terraces, balconies and patios has become the most sought-after. Gardens and common areas are a highlight of the majority, pushed by the search for natural light, much easier to find in brand new housing developments “, explains MarĂ­a Matos, Director of Studies and spokesperson for Fotocasa.

Finally, among home buyers, 39% did not consider acquiring a new- build home, a figure seven points higher than that of February 2020.

However, not all those who looked for a new construction house ended up buying. In fact, 55% of those who considered new construction ended up buying second hand and, consequently, the other 45% did acquire new construction.

According to the study, the result of this process is that almost a third (30%) of those who bought a house in the last 12 months ended up acquiring a new construction house . Although it maintains a downward trend from the 37% it reached in 2019, it is a very similar percentage to that of 2020, especially taking into account the aforementioned fall in consideration.

Where do you buy more?
In the Community of Madrid, the percentage of those who have considered both new and second-hand work in the last year was 39%, ten points less than a year ago. However, as is the case in the whole of Spain, those that consider only new construction, although they fell slightly, remain at more stable values. Thus, in Madrid, in the last 12 months, 25% have considered only new construction, compared to 26% the previous year. This percentage is 15% in Catalonia and 17% in Andalusia.

However, in the Community of Madrid is where new construction has more weight. Thus, 38% of the individuals who have finally bought in the last twelve months in that region have acquired a newly built house , a percentage 17 points higher than the 21% of buyers in Catalonia.

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