2 November 2018 – Eje Prime
The residential sector is driving the new build segment in Spain. In August, a total of 1,620 permits were granted to build homes across the country, 7.8% more than during the same month in 2017. Of those, 1,389 were allocated to assets for residential use, which saw an increase of 12%, according to the latest data published by the Ministry of Development.
In August, the bulk of the new build permits granted for residential use were made for the construction of 1,387 family homes, specifically: 938 detached single-family units, 205 terraced single-family units and 244 flats in apartment blocks.
So far this year, a total of 17,151 permits have been processed for the construction of residential use assets, up by 10.2% compared to the first eight months of 2017, when those types of permits amounted to 15,562.
Meanwhile, during the eighth month of 2017, 231 permits were granted for the construction of non-residential use buildings, down by 1.5% compared to the same period last year. In that caption, there were three new permits for the construction of offices, another 21 for the development of industrial spaces and 83 more for assets dedicated to commercial services and warehouses.
Licences and budgets also recover
In terms of the concession of licences, last Wednesday, the Ministry of Development published figures corresponding to May. According to the body, 4,449 new permits for residential buildings dedicated to family homes were registered during the fifth month of the year (1,606 single-family units and 2,843 multi-family units), down by 0.8% compared to the same period in 2017.
Similarly, the number of licences processed for rehabilitation works doubled in May in YoY terms, to reach 825 concessions. The budget dedicated to the execution of labour also rose during the fifth month of the year, up from €493,095 in 2017 to €4989,264 in 2018.
Original story: Eje Prime (by B. Seijo)
Translation: Carmel Drake