Buyer Guide
Nowy budynek vs rynek wtórny: 2026
Klasy energetyczne, podatki, gwarancja i płynność na rynku wtórnym.
Across the Mediterranean prime markets, the decision is no longer simply "newer = better". Energy-rating tightening (Class F/G rental bans in France from 2025, similar trajectories in Spain and Portugal) has pushed pre-2000 stock into a discount band. New-build delivers warranty and energy efficiency but rarely the lifestyle premium of a Belle Époque apartment or a 200-year-old finca. Here is how to think about it.
Tax and Transaction Cost
France: new-build 2–3% (VAT pre-included) vs resale 7–8%. Spain: new-build 10% VAT + 1.5% AJD vs resale ~6–10% ITP (region-dependent). Portugal: new-build 6.5% IMT vs resale identical IMT bracket. UAE: 4% DLD on both. On a €2M purchase the new-build vs resale tax delta in France alone is ~€100,000 — material.
Warranty and Risk
New-build in France carries the 10-year décennale warranty on structural works and the 2-year biennale on equipment — peace-of-mind that survey-and-pray on a renovated 1920s building cannot match. The trade-off: new-build is typically off-plan (24–36 month wait), with developer risk and price-escalation clauses.
Energy and Operating Cost
New-build at current code (RE2020 in France, near-zero-energy in Portugal and Spain) cuts heating/cooling cost 60–80% vs unrenovated pre-2000 stock. Annual energy savings on a 200 m² villa: €3,000–€6,000. Resale buyers should budget €500–€1,200/m² for a deep energy retrofit on anything pre-1990.
Character Premium and Liquidity
Belle Époque apartments in Nice, ramparts-old-town apartments in Antibes, traditional fincas in Santa Gertrudis — these will outperform identical-spec new-build on a 10-year hold because supply is fixed and demand for character is structural. Pure-spec new-build wins on lock-up-and-leave convenience, lower service charges (newer infrastructure) and warranty.
| Factor | New-build | Resale |
|---|---|---|
| Transfer tax (France) | 2–3% | 7–8% |
| Warranty | 10-year structural | None — diagnostic only |
| Energy efficiency | Class A typical | Variable, often D–G |
| Wait time | 24–36 months | Immediate |
| Character premium | Low | High for prime stock |
| Service charges | Lower | Higher (older systems) |
| Resale liquidity | Strong year 1, decays | Stable for prime stock |