In May, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 4,029 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento), which was up from the 3,801 permits approved in April. On an annual basis, permits declined 38.2%, a deterioration over the 35.8% fall recorded in April. As a result of the monthly figure, the moving 3-month sum totalled 12,678 permits in May, which represents a 34.7% decline over the same period last year and marks, in fact, a new record low, indicating that the housing market remains depressed. At the current level, permits are only a fraction of the number given during the peak in the July-September period of 2006, when 268,266 permits were granted. In addition, housing prices continue to decline. The general index of housing prices produced by the Ministry of Public Works dropped 8.3% year-on-year in the second quarter, which marked a deterioration compared to the 7.2% decline observed in the first quarter. The price per square metre reached EUR 1,606 in Q2, which is 23.6% below the peak of EUR 2,101 per square metre recorded in Q1 2008.
Housing market still depressed
July 30, 2012
Looking for forecasts related to Housing in Spain? Download a sample report now.
Spain Economic News
October 7, 2016
In August, industrial production expanded 4.0% from the same month last year in working-day adjusted terms.
October 5, 2016
The Markit Purchasing Managers’ Index (PMI) Composite Output Index came in at 54.1 in September, which was slightly below August’s 54.8 reading.
September 30, 2016
Spain’s current account balance incurred a surplus of EUR 3.0 billion in July, which was above the EUR 2.7 billion surplus recorded in the same month of last year and marked the highest reading since December 2014.
September 29, 2016
In August, retail sales rose 4.9% over the same month last year as the discount season drew to an end.
September 29, 2016
In July, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 6,267 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento).