Last week, the area of Ciudad Vieja (Old Town), in A Coruña, came to the attention of the media due to the fact that it became the second richest area of Spain. This became known from the statistics on IRPF, which were published by the Spanish Tax Service. Based on these data, the media were able to conclude that the largest number of the richest residents is located in Ciudad Vieja. Only the La Moraleja district was able to overtake him.
Despite the fact that only a few families of Ciudad Vieja provide most of the taxes, this is still an extremely popular area of the city among wealthy buyers. At the same time, it is here that some of the most expensive real estate objects in the country are sold. According to the Idealista real estate portal, a square meter of housing will cost a potential buyer an average of 3,000 euros. The average for the whole of A Coruña is only 2,230 euros.
Isabel Costello, a delegate of the Galician Association of Real Estate Agents in A Coruña, told Quincemil that the Old Town has a special real estate market when compared with other areas of the city. For example, there are no various shops and supermarkets, garages and an abundance of parking spaces, there is nothing that they usually try to attract real estate buyers with — this is an expensive area that is in great demand among both wealthy buyers and investors.
How much does real estate in the Old Town cost?
Costello notes that within the district it is possible to purchase houses at a price of 130,000 to 150,000 euros, although these are objects without repair that require renovation. The rest is more expensive. At the same time, there is a noticeable shortage of new construction, since many objects and lands in the Old City are under protection and permits for housing construction for developers are issued rather slowly.
More expensive objects on sale will cost 400-450 thousand euros. These are already new or renovated housing facilities adapted to modern requirements and consumer demand. But on average, you can find housing at a price of 200,000-250,000 euros, if you rely on the words of Costelo.
Residents of the district and homeowners have long been making demands to A Coruña City Council to create a special urban planning bureau for the Old Town, which will assist in the construction and planning of the development of the district, will help create more offers on the market, increase the number of buyers and sales of housing.