Madrid is not experiencing a real estate boom comparable to what happened in the first five years of the 21st century. However, after the real estate bubble left behind bursting, giant strides were made to connect new areas of the capital to provide more housing. Not all go at the same time, but each has its own rhythms and deadlines. Strong demand and low supply launched funds and promoters to purchase large bags of soil in these regions new developmentsthose who see the light or will see it in the years to come.
Which are the most important? Without hesitation, Southeast Developments: Valdecarros, Los Berrocales, Los Ahijones, El Cañaveral and Los Cerros. In total, more than 118,000 new homes will be built in the coming years, more than the population of cities like Santiago de Compostela, Zamora or Gerona.
this more importantly Valdecarros, both for its size and for being closest to Ensanche de Vallecas. According to estimates, it will house 51,000 new homes, almost five times the Operation Camp that the Government plans to block. 5 million of the total 20 million square meters belong to the Administrations. Its development is programmed in eight phases, adapting to each of the needs, with a total budget of more than 7,500 million euros.
This urban development has been on the agenda in recent weeks after fund manager Azora closed its 1.08 million-square-foot acquisition. Third largest landowner in the regionAlong with Zapata, Pryconsa, the Fernández de Córdoba family or the Santos brothers, Sareb, Banco Santander, Banco Sabadell, Blackstone or Cerberus.
Other developments in the southeast
the truth more advanced El CañaveralMore than 5,000 of the 14,000 planned homes have been completed. It covers a total area of 500 hectares and has listed promoters such as Aedas Homes and Neinor Homes or Marco Colomer group Pryconsa.
Good progress in the field is associated with the price of its properties: prices have increased by 70% since mid-2015, reaching 3,000 euros per square metre., according to real estate data platform Brainsre. Many buyers paid much lower prices years ago, so their real estate assets have appreciated greatly. Now it’s hard to buy a house under 250,000 euros, while the four of them are secretly approaching half a million.
Adjacent to the previous one is Los Cerros, the easternmost urban development, where urbanization work began only a few months ago. It is similar in size to its equivalent with 14,276 planned houses.. Vía Célere, Vía Ágora, Metrovacesa and Sareb are the largest landowners.
Also in the urbanization phase Los Ahijones has space to build 17,000 homes56% will have some form of official protection. After the preparatory phase of the land begins in 2021, the starting signal for the work of the first houses will be at the beginning of 2023. By 2025, future residents of Los Ahijones will already be able to enter their apartments. Finally, Los Berrocales completes the southern zone, an urban development planning to urbanize more than 8.3 million square feet and It will have more than 22,000 homesapproximately 7,000 of them will be VPPL and 4,300 will be VPO.
not just in the southeast
Although most of the new houses to be built in the capital are located in the southern region; They’re not the ones with the most headlines. The former Operation Chamartín, now renamed Crea Madrid Nuevo Norte, is under development. The old land owned by Adif will form the capital’s new financial district, with more than 10,000 new homes, several skyscrapers and a large park; on the area occupied by the existing Chamartín Station and on the tracks that will be buried. The land is owned by BBVA, Socimi Merlin Properties and the construction company Grupo San José.
Another one that has made the most noise, although it has not started yet, is Solana de Valdebebas. The twin quarter is an example of success in urban planning in Madrid, with more than 30,000 registered residents in the area and a model that combines residential and tertiary use. Valdebebas managed to break the myth that new neighborhoods are dormitory towns, as several hotels, three hospitals, two office buildings and a new shopping mall will be developed in the future. Such a feat that early buyers doubled or tripled the price of their property. La Solana will be much smaller with only 1,400 homes planned half will have some protection.
Alcobendas also has its own development, Valgrande, with a total of 8,600 program residences. the last one Monteganceo, in Pozuelo. It is featured in some old powder magazines and has Consistory’s approval to initiate re-plotación. One of the features of this is that more than half of the 70 hectares it covers will be used as a large park.