Building Permits For New Houses Up For First Time Since 2011

2/10/2014 – El Mundo

The number of new residential building permits in Spain allowed construction of 22.624 houses from January throughout July 2014. If compared to the same period of time last year (22.316 housing units), it improved by 1.3%. It is necessary to look back to 2011 to see the last statistical rise.

According to the latest update by the Ministry of Public Works, out of the total of the permits handed over during these seven months, 15.383 corresponded to apartments in blocks (up 1.2% year-on-year) and 7.229 to single-family homes. Moreover, there were 12 building permit applications concerning non-residential building construction.

The rise in the permits number has broken the downward tendency haunting the housing market of Spain over the last years. This fact makes the building permits another indicator confirming the market recovery.

In 2013, the index showed a record low (33.869 units) and linked seven years of an uniterrupted slump. Since the 2006 peak, when 865.561 permits were issued, the decline hit 96% at the end of 2013.

 

Original article: El Mundo

Translation: AURA REE

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