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New homes getting bigger as result of economic crisis

There aren’t many new homes being built in Spain today, but the few that are under construction are bigger than before.

The average size of new flats being built has risen to 103.2 m2 in Q1, compared to 99.7 m2 the same time last year, and 96.8 m2 in Q1 2008, according to figures from the Government (Fomento). This is the first time that new home sizes have risen above 100 m2 since 2004.

Rising prices during the boom meant that new homes were built ever smaller to make them affordable to the average buyer. Now that prices have fallen 30pc or more, with a massive glut of small new homes on the market, the few developers with the cojones and funds to start building again are offering bigger homes that people might actually want.

And it’s not just flats; detached homes are also getting more generous, up to 187.8m2 in 2010, the biggest size since records began in 2000.


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