Ministry Of Development: 5.5% Fewer Homes Were Built In 2015

22 February 2016 – El Economista

Between January and November 2015, 41,424 homes were constructed in Spain, which represents a decrease of 5.5% compared with the same period a year earlier (43,823), according to data published by the Ministry of Development and reported by Servimedia.

As such, the number of new homes constructed in Spain continued its downward trend in 2015, following seven consecutive years of decreases leading up to 2014.

99.2% (41,102) of the homes completed during the 11 months to November related to private developers, whilst the remaining 0.8% (322) related to public administrations.

The construction of homes decreased by 5.2% in the case of private developers and by 31% in the case of public administrations, compared with a year earlier.

In the private segment, 23,491 homes related to commercial companies, representing a YoY decrease of 1.5%; 14,236 related to individual people and communities of owners (down by 0.4%); and 1,646 related to cooperatives (down by 47.8%). In addition, 1,729 completion permits related to homes constructed by other types of private developer.

Meanwhile, the liquidation value of the physical construction work decreased by 6.7% to €5,643.4 million during the 11 months to November 2015.

Original story: El Economista

Translation: Carmel Drake