Tag: private developers

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

Ministry Of Development: 5.5% Fewer Homes Were Built In 2015

22 February 2016 – El Economista

Between January and November 2015, 41,424 homes were constructed in Spain, which represents a decrease of 5.5% compared with the same period a year earlier (43,823), according to data published by the Ministry of Development and reported by Servimedia.

As such, the number of new homes constructed in Spain continued its downward trend in 2015, following seven consecutive years of decreases leading up to 2014.

99.2% (41,102) of the homes completed during the 11 months to November related to private developers, whilst the remaining 0.8% (322) related to public administrations.

The construction of homes decreased by 5.2% in the case of private developers and by 31% in the case of public administrations, compared with a year earlier.

In the private segment, 23,491 homes related to commercial companies, representing a YoY decrease of 1.5%; 14,236 related to individual people and communities of owners (down by 0.4%); and 1,646 related to cooperatives (down by 47.8%). In addition, 1,729 completion permits related to homes constructed by other types of private developer.

Meanwhile, the liquidation value of the physical construction work decreased by 6.7% to €5,643.4 million during the 11 months to November 2015.

Original story: El Economista

Translation: Carmel Drake