THE BOOM IN SOUTH-EAST MADRID: MORE THAN 2,192 HOMES FOR SALE
18 Apr 2024
§ The neighbourhood of El Cañaveral has an average price per square metre of €3,266/sqm.2
§ Los Berrocales and Los Ahijones have prices from 251.983€ for a 2 bedroom property.
§ Los Cerros, in the process of development, is priced from 168.988€ for a two-bedroom flat in VPPB scheme
Los Berrocales, Los Ahijones and Los Cerros emerge as the new promising areas in the southeast of Madrid after El Cañaveral. According to the analysis carried out by Activum Real Estate Consultinga real estate consultancy with more than 25 years of experience, these emerging areas are positioned as destinations of interest in the region's real estate market, offering unique opportunities in the southeast of Madrid.
More than 580 homes for sale in El Cañaveral and 360 in Los Cerros
El Cañaveral, as the most developed area in the south-east of Madrid, represents a milestone in the region's urban expansion. Currently, it has an average price per square metre of free housing of €3,266 per square metre.2. Prices range from €260,000 for a two-bedroom to €377,000 for a three-bedroom freehold property.
The neighbourhood is at a turning point with the beginning of the adjacent Los Cerros development. This area is characterised by a medium degree of consolidation, with a notable amount of promoted buildings marking its progress. One of the key advantages of El Cañaveral is its advanced urban development and its excellent location, in close proximity to the centre of Madrid, making it an attractive destination for those seeking easy access to the capital. This process of service provision is an integral part of the area's ongoing development plan, which seeks to ensure a liveable and quality environment for its residents.
On the other hand, the Los Cerros neighbourhood, which is expected to follow in the footsteps of El Cañaveral. Although still at an early stage, it is projected as an option to consider for future property investment in the region. Average house prices in this area are €173,731 for two-bedroom and €228,497 for three-bedroom VPPB, considering that no free housing is currently being marketed.
Table 1. Current developments in El Cañaveral and Los Cerros:
More than 1,000 homes for sale in Los Berrocales and 200 in Los Ahijones
Los Berrocales and Los Ahijones emerge as a necessary complement to meet the growing demand for housing in Madrid. Their strategic location close to consolidated urban areas such as Vallecas - La Gavia positions them as key points for the future economic growth of the region.
The average price per square metre of free housing in Los Berrocales and Los Ahijones stands at 3,029€/m2. In terms of absolute prices, homes in Los Berrocales range from €251,983 for two bedrooms (free housing) to €313,500 for three bedrooms (free housing), while in Los Ahijones they range from €277,000 (free housing) for two bedrooms to €336,000 (free housing) for three bedrooms.
"Los Berrocales, in particular, has an advanced state of urbanisation and commercialisation in stages 1 and 3, making them particularly attractive to buyers. These residential areas represent a breakthrough in terms of urbanisation and commercialisation, projecting significant potential to transform the socio-economic dynamics of the region."he commented Ignacio Ortiz, Director of Research & Investment at Activum.
Table 2. Current developments in Berrocales and Los Ahijones
VPPB housing in the South East
Several VPPB developments are in the process of being marketed in the southeast of Madrid. Prices range from €159,450 for two-bedroom properties to €244,879 for three-bedroom properties. In El Cañaveral, a total of 64 homes are available under the VPPL scheme, while Los Cerros, with developments exclusively under the VPPB scheme at present, has 363 homes on offer. On the other hand, Los Berrocales leads the ranking in terms of quantity and diversity of supply, with a total of 541 VPPB and VPPL properties, while Los Ahijones offers 61 properties in its extension.
Housing supply by developer
Behind this urban transformation are developers such as Grupo Ibosa, the undisputed leader with a total of 677 homes. It is closely followed by Aurquia with a total of 412 homes, Aedas Homes with 290 homes, Habitat Inmobiliaria with 163 homes, Vía Célere with 161, Novoveral and Doppio with 96, Pryconsa with 66, Hayedo de Abantos with 64, Asentis 61, Impact Homes 58 and Nozar with 48.
