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Ministry Of Development: Housing Permits Rise By 49.8%

29 July 2016 – El Economista

The number of new permits authorised to build homes in Spain amounted to 28,662 between January and May 2016, representing an increase of 49.8% compared with the same period last year (19,132 units).

In this way, permits for the construction of homes are continuing their positive trend in 2016, after recording two consecutive years of increases in 2014 and 2015, according to data from the Ministry of Development published on Thursday.

Of the total figure, 21,497 permits corresponded to blocks of flats (representing a YoY increase of 58.2%) and 7,160 related to family homes, i.e. a YoY increase of 29.4%.

In addition, five permits were requested for other types of buildings not intended for use as family homes, compared with 12 such permits during the first five months of 2015.

This overall increase during the first five months of 2016 comes after the consolidation in 2015 of the recovery in the number of permits granted (with an improvement of 42.5%), which had begun in 2014, when seven years of consecutive decreases were broken by a rise of 1.7% (to 34,873 units).

This real estate market indicator reached its historical low in 2013 (34,288 units), a figure that represented a 96% decrease from the peak recorded in 2006, when 865,561 permits were granted.

Original story: El Economista

Translation: Carmel Drake