Ministry Of Development: New Builds Up By 2% In YTD April

11 July 2016 – El Economista

Between January and April 2016, construction of 14,098 homes was completed in Spain, which represents an increase of 2% compared with the same period last year (13,818), according to data from the Ministry of Development, compiled by Servimedia.

In this way, the number of finished homes in Spain continued its positive trend during 2016, after eight consecutive years of decreases leading up to and including 2015. From its peak in 2007 (641,419 homes), the figure dropped by 93% in 2015 (to 45,152).

Of the total number of new homes completed during the fourth months to April, 98.6% (13,842) related to private developers and 1.4% (256) to public administrations.

The construction of homes has increased by 1.6% in the case of private developers compared to a year earlier and by 34.7% in the case of public administrations.

In the private sector, 8,118 of the homes were constructed by commercial companies, with a YoY increase of 9.6%; 5,415 corresponded to individuals and communities of owners (+9%) and 219 related to cooperatives (-62.2%). Moreover, 90 other work completion licences were associated with private developers. (…).

Original story: El Economista

Translation: Carmel Drake