Why are residential developments booming?


The decision to live in a residential development is becoming increasingly fashionable. The real estate sector offers a wide variety of residential developments to meet the needs and tastes of different types of buyers. These residential developments are projects that can vary in size and type, from apartments in buildings to single-family homes in developments, and also in legal form. See here our post on the advantages of cooperatives.

From personalHOME, we want to deepen into the 5 main characteristics of the residential developments that are usually marketed.

1. By type of housing

The first decision that every person or family makes when buying a house is the type of housing they want to live in. We can then distinguish between villas, bungalows, semi-detached or townhouses, and residential buildings.

Villas: Villas are detached single-family homes, with private gardens and swimming pools, which offer a higher level of privacy and comfort. The price of this type of development may vary depending on the square meters of the plot and the property and the quality and characteristics of the construction. They are aimed at a public of high purchasing power.

Urbanization of bungalows, semi-detached or terraced houses: a group of single-family houses that share common areas. Usually, each of them has its private plot, and, depending on the type of urbanization, it may have a swimming pool, playground, sports area, social center, gym, etc…  

The main difference between this type of development is that a bungalow does not share walls with other houses in the same urbanization, which offers greater independence and privacy than a semi-detached house, which shares one wall, or a townhouse, which shares both walls. This type of development offers a balance between independence, space, and cost.

Residential building: high-rise residential housing that can consist of apartments, penthouses, or duplexes. These buildings can have urbanization with common areas such as swimming pools, playgrounds, sports areas, social centers, gyms, etc., and within the same building can cohabit the three types. While an apartment has all its rooms on the same level, a duplex has two levels, and a penthouse is an apartment located in the highest part of the building that enjoys privileged views and usually has large terraces or solariums.

2. Location:

After the type of housing, location is another of the fundamental factors to consider when choosing a residential development, for some, the main one. It is important to evaluate the proximity to essential services such as public transportation, schools, shopping centers, and leisure areas, as well as the environment and quality of life in the area.

In every city, there are premium locations due to their proximity to an emblematic place, coastal area, monuments, historic center, the type of housing that exists or simply because it has become fashionable.

3. Sustainability

Many current developments include sustainable features, such as energy-efficient systems, eco-friendly materials, and bioclimatic design.

The proliferation of European financial aid, as well as mortgage advantages for those projects with high grade green certificates, have contributed to its growth in recent times.

4. Purchasing process

In general, the purchase process is composed of the pre-sale, reservation, financing, construction and delivery stages. At personalHOME we have created a perfect turnkey, fixed price purchasing process:

  1. Your idea
  2. Meeting
  3. Design
  4. Contract
  5. License
  6. Construction
  7. Your personalHOME

5. Benefits of residential developments

Modernity: new homes with the latest technologies and construction standards.

Customization: opportunity to choose finishes and layouts before completion of the work.

Community: living in a development can provide a sense of community and access to shared services.  

In conclusion, residential developments are a very good alternative nowadays if you want to buy a property either as an investment or to live in, but you always have to take into account important factors such as the experience of the developer and the legal management of the project.

Grupo Renovak Building Company has more than 15 years of experience in the real estate market and its project management, personalHOME, accompanies you throughout the process from the moment you choose one of our developments, through the contract, the financing, and the execution of the work, a process in which we offer the best guarantees.

We have specialized in the promotion of villas and single-family housing developments in cooperatives. We are about to deliver Residencial Zenit, initiate Celeste Villas, in the process of marketing Residencial Nadir, and launch two more exclusive cooperatives. If you are interested, sign up here without obligation.

Share this post: