Spain: Housing permits continue to drop
February 28, 2013
In December, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,587 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was down from the 3,106 permits approved in November. As a result, permits plunged 52.2% on an annual basis, widely exceeding the 32.4% fall recorded in November.
As a result of the monthly figure, the moving 3-month sum totalled 8,877 permits in December, which represents a 44.1% decline over the same period the previous year and marks a new record low. 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.
For the full year 2012, the Spanish Board of Architects granted a total of 44,162 permits, a 43.6% drop in annual terms. Moreover, the figure pales in comparison to the 865,561 permits granted on 2006, at the peak of the housing bubble.