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Ministry Of Development: Renovation Permits Rose By 5.6%

10 May 2016 – El Mundo

The number of permits granted for the refurbishment or renovation of homes in Spain amounted to 3,867 in January and February 2016, which represents an increase of 5.6% with respect to the same period last year (3,663 permits), according to data published by the Ministry of Development.

In this way, the number of permits granted for home renovation recovered its positive trend in the second month of 2016, after decreasing in January (-8.3%). Permits for home renovations recorded positive growth in February, after closing 2015 up by 13.4%.

In 2014, the number of permits granted for home renovations recorded four consecutive years of decreases and hit a low in the historical series prepared by the Ministry of Development, however that trend was broken with the aforementioned increase in 2015. Meanwhile, the number of approvals granted for property extensions decreased by 4.3% during the two months to February 2016, to 223 units.

The drive towards renovations was one of the strategic initiatives proposed by Mariano Rajoy’s Government for the housing sector. The acting Executive approved the Law for the Refurbishment, Regeneration and Renovation of Urban Properties, as well as the State Plan for Rental Housing and Refurbishments 2013-2016, which provide aid for this activity.

Original story: El Mundo

Translation: Carmel Drake