Spain: Housing permits continue to increase in March
May 31, 2017
In March, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 7,184 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was above the 6,545 permits approved in February and marked the best reading since September 2011. On an annual basis, permits jumped 15.9% in February, which was just slightly above the 15.3% increase recorded in the previous month.
The moving three-month sum of permits totaled 19,963 in March—the highest figure since August 2011—which represented a 18.7% increase from the same period of the previous year. The figure followed February’s 12.6% expansion. Nevertheless, the current number of permits represents a mere fraction of the 268,266 permits that were granted during the July–September 2006 peak.
Author: David Ampudia, Economist