Learn about the benefits of buying a new property in Fuerteventura compared to buying a second hand property on the island.
The demand for new homes in the Canary Islands continues to grow.
The advantages of this type of property compared to second-hand properties means that more and more buyers and investors are opting for this type of property.
However, the current supply is still not sufficient for a demand that continues to grow.
In Destiny Home we are the first company to market new construction in Fuerteventura. If you are looking for a new build property on the island, in Destiny Home you will find the best opportunities. Here we present Villas de Tamaragua, a development of new homes in cooperative regime with which you can save up to 25%. Do you want to know how?
Benefits of new construction in the Canary Islands
But, what is it about new construction in Fuerteventura that makes it so advantageous compared to second hand properties?
Below we describe the main reasons why choosing a new build property is a wise decision.
Modern and sustainable infrastructures
New build homes in Fuerteventura are designed with the latest innovations in construction and sustainability.
This translates into buildings that are not only aesthetically pleasing, but also energy efficient.
Many of these new constructions incorporate green technologies such as solar panels and rainwater harvesting systems, helping to reduce environmental impact and utility costs.
Another significant advantage is the quality of materials and finishes.
New build properties in Fuerteventura are usually built with high quality materials that guarantee durability and minimum maintenance in the long term.
In addition, these properties usually comply with the latest regulations in terms of safety and energy efficiency, offering buyers additional peace of mind.
- Durability and strength: modern building materials are more durable and resistant, which means that the home will need less maintenance and repairs over time.
- Advanced construction technology: the implementation of new technologies in construction ensures a more robust and safer structure, complying with the latest safety and efficiency standards.
Modern design and comfort
New build homes in Fuerteventura are designed with a focus on functionality and resident comfort:
- Optimized spaces: Modern designs make the best use of available space, creating larger and brighter living areas.
- Customization: Buyers often have the option to customize certain aspects of the home such as finishes, colors and layouts, allowing them to tailor the home to their personal tastes and needs.
- Technological innovations: New homes often come equipped with the latest home automation technologies, offering greater control over the home environment through intelligent lighting, heating and security systems.
Guarantees and legal certainty
Buying a new property in Fuerteventura offers a number of guarantees that are not always available with second hand properties:
- Builder’s warranty: New homes usually include warranties that cover structural defects and finish problems for several years, giving the buyer peace of mind.
- Transparency in the purchase: The process of buying a new home is generally more transparent and regulated, reducing the risk of legal or administrative problems.
Investment and revaluation opportunities
Investing in a new build property in Fuerteventura can be a sound financial decision.
The island has experienced steady growth in property values, driven by increasing demand from both local residents and foreigners looking for a home in this Canary Island paradise.
Buying a property under development can mean acquiring it at a more affordable price, with the potential for significant appreciation as the area develops and improves.
*Access all the data on the real estate market in Fuerteventura by downloading our latest real estate report.
In addition, Fuerteventura is a top tourist destination, known for its white sandy beaches and crystal clear waters, which attracts millions of visitors each year. This creates additional opportunities for new homeowners, who may consider holiday rentals as a complementary source of income. Well-located, high-quality properties are often in constant demand in the vacation rental market, which can offer an attractive return on investment.
These advantages ensure that the investment in a new construction property not only meets current needs, but also offers long-term benefits.
Lower prices
Unlike other regions, new construction in the Canary Islands is cheaper than second-hand housing, an unusual circumstance that is only found in Galicia and the Canary Islands in Spain.
The reasons for this advantage include the more peripheral location of these buildings, longer delivery times, the scarcity of second-hand supply and the fact that, as these are often off-plan purchases, the prices have been defined in advance, so they have not been so affected by the current price escalation.
Where to find new construction in Fuerteventura
Finding new build properties in Fuerteventura is not easy.
The scarcity of the current supply makes buyers and investors find serious difficulties when it comes to finding new homes on the island.
Currently, in Destiny Home we have for sale the first promotion of new construction in cooperative regime in Fuerteventura.
This is Villas Tamaragua, a development of 118 homes located in La Capellania, a consolidated urbanization of Corralejo.
Find out all the details about this exclusive new development in Fuerteventura.
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.
