Buying a new build property off plan, i.e. when the project has not yet been built, generates doubts in buyers, as they have to sign a reservation and commit to a project that cannot yet be physically visited. However, in the Fuerteventura real estate market, this option represents a profitable investment opportunity.
In Destiny Home, real estate agency specialized in new construction in Fuerteventura, we accompany our clients throughout the process, from the choice of the project to the delivery of keys, ensuring transparency, security and the best professional advice at every step.
Lower prices and preferential conditions
One of the biggest attractions of buying off-plan is the introductory price. Real estate developments offer their first units at reduced rates to finance the initial phases of construction.
This means that those who buy at this stage can access their home for significantly less than the final market price, benefiting from an automatic revaluation when the project is completed.
In Fuerteventura, where the demand for demand for new homes is constant and land for development is limited, this advantage is even more evident.In Fuerteventura, where demand for new homes is constant and developable land is limited, this advantage is even more evident: off-plan buyers see the value of their investment grow even before they receive the keys.
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Possibility to customize the house
Buying a home under construction allows something that second-hand properties do not offer: to participate in the personalization of the future home.
Depending on the conditions and the progress of the work, the buyer can choose the orientation, interior layout, materials, finishes, carpentry or even the type of flooring or tiling.
This flexibility makes each project a unique home tailored to the buyer’s preferences, something especially valued by those looking for a second home on the island or a vacation rental property.
Lower taxes and higher profitability
In the Canary Islands, the purchase of new buildings benefits from the IGIC reduced to 7%, as opposed to the transfer tax that is levied on second-hand properties. This tax differential represents a significant saving for the buyer and improves the profitability of the investment.
In addition, new homes, being built with current materials and complying with the most recent energy regulations, have much lowermaintenance and consumption costs.
This increases profitability whether it is intended for own use or for holiday or long term rental, an increasingly demanded option in coastal areas of Fuerteventura such as Corralejo, Costa Calma or El Cotillo.
Privileged location and high rental potential
New developments in Fuerteventura are being developed in strategic locations, many of them with sea views or in residential areas of high tourist attraction. This allows the buyer to secure a privileged position in the real estate market of the island.
The combination of natural environment, mild climate all year round and international connectivity makes Fuerteventura one of the most sought after destinations for both living and investment.
The projects managed by Destiny Home -such as Shambhala Fuerteventura or Bristol Sunset Beach-are examples of how an off-plan investment can be transformed into a highly profitable property thanks to the high demand for tourist and residential rentals that characterizes the island.
If you are looking for sustainable housing, The Elysian Collection development allows you to reduce energy and water consumption. Check availability of 2 and 3 bedroom homes in Fuerteventura:
Legal security and professional support
At Destiny Home we know that trust is the key to deciding to buy off-plan. That is why we accompany the buyer in all phases of the process:
- Project selection: we analyze the best developments on the island, verifying their urban viability, execution deadlines and the developer’s reputation.
- Contractual review: our legal advisors review the reservation documents and purchase contract to guarantee the buyer’s rights.
- Payment and financing management: we help plan disbursements during construction and, if necessary, arrange financing with collaborating entities.
- Construction monitoring: we report periodically on the progress of the construction and maintain direct communication between the developer and the buyer.
- Delivery and registration: we accompany the client up to the signing at the notary’s office and registration at the Land Registry.
Buying off-plan in Fuerteventura, with the support of a specialized agency such as Destiny Home, is a safe, transparent and personalized process.
An investment that will appreciate in value from day one
Unlike a used home, whose value depends on its condition and location, new homes increase in value from the moment construction begins. Each completed phase, each urban improvement in the area and each unit sold increases the value of the project.
In consolidated tourist markets such as Fuerteventura, where supply is limited and demand continues to grow, this revaluation can reach very attractive percentages in just a few months.
Many of our clients invest in off-plan properties with the objective of obtaining capital gains in the short or medium term, or to enjoy an asset that combines profitability and personal enjoyment.
Destiny Home, specialists in new construction in Fuerteventura
With more than 18 years of experience in real estate promotion and marketing in the Canary Islands, Destiny Home has positioned itself as the first agency specialized in new construction in Fuerteventura.
Our network of offices in Corralejo and Puerto del Rosario, allows us to offer comprehensive coverage throughout the island, with a team of multilingual advisors who understand the needs of the international buyer.
We work directly with trusted developers, selecting only projects with all the legal and technical guarantees, and offering a complete service of advice, financing and subsequent rental management.
If you want to be the first to know about new housing developments coming on the market, at Destiny Home we have created a Real Estate Exchange for cooperatives. Sign up!
Real estate developments in Fuerteventura
Real estate developments in Fuerteventura for sale:
- Costa Lobos: Semi-detached Houses of new construction in Villaverde
- Morro Francisco: Villas in Corralejo. Panoramic views to the mountains, the sea and the island of Lobos.
- The Elysian Collection: Apartments in Caleta de Fuste
- Coral: Villas in Corralejo, with gardens and private pool
Upcoming housing construction in Fuerteventura:
- Villas Moneiba, villas, from 2 to 4 bedrooms in Corralejo
- Las Arenas (Aliseda): 11 dwellings, between 2 and 3 bedrooms
Questions and Answers about New Construction in the Canary Islands
Since 2021, the Canary Islands have shown an unusual trend in the real estate market: new construction is cheaper than second-hand housing. According to the Association of Registrars, in the first quarter of 2024, the average price of new construction in the Canary Islands stood at €2,110 per square meter, while used housing reached €2,243 per square meter.
These are some of the reasons why new construction in the Canary Islands is cheaper than second-hand housing:
Peripheral location: New homes tend to be located in less central areas than used homes, which are located in consolidated areas with all services nearby, raising their price.
Less Affected by Inflation: New construction housing transactions reflect prices defined years ago, as they are off-plan purchases, so they are not as affected by current inflation.
Supply Shortage: There is a limited supply of both new and second-hand housing, which increases demand and, consequently, prices.
Longer Delivery Times: Buyers prefer ready-to-move-in homes, which is more common in the second-hand market. Longer delivery times for new construction can be a disincentive for some buyers.
Finding new build developments in the Canary Islands can be difficult due to the scarcity of product. At Destiny Home, we are proud to be the first company to market new developments in Fuerteventura. We currently market Villas Tamaragua, the most ambitious new development on the island, with 110 cooperative housing units.
