Ministry Of Development: Finished Homes Rose By 39% In YTD July

17 October 2017 – El Mundo

Between January and July 2017, builders finished constructing 33,085 homes in Spain, which represents an increase of 39% with respect to the same period in 2016, according to data from the Ministry of Development.

In this way, the number of finished homes in Spain recorded a positive start to 2017, after registering nine consecutive years of decreases in 2016. From the peak of 2007 (641,419 homes), the figure had decreased by 94% by the end of 2016.

Of the total number of homes completed during the 7 months to July, 97.7% (32,312) were built by private property developers and 2.3% (7739 by public administrations. With respect to a year earlier, the construction of homes by property developers rose by 37.4%, and in the case of administrations, the figure more than doubled, from 318 to 773.

In the private sector, 20,043 of the homes were built by commercial companies, up by 46.3% YoY; 10,706 were constructed by individual people and communities of owners (+22.8% YoY) and 1,287 were built by cooperatives (81.8% YoY). Finally, 276 end-of-work permits corresponded to other types of private developers.

Meanwhile, the settlement value for the execution of construction work rose by 45% during the 7 months to July, to €4,381.1 million.

Original story: El Mundo

Translation: Carmel Drake