Spain: Housing permits decline further in December
February 28, 2011
In December, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 10,350 construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento), which is down slightly from the 10,396 permits approved in November. As a result, the 3-month moving sum totaled 29,195 permits in the period ending December, which represented a 19.6% contraction compared to the 36,327 permits approved in the same period of 2009. At the current level, permits are only a fraction off the peak reached in July-September 2006, when 279,070 permits were granted. For the full year 2010, the Board of Architects granted a total sum of 127,543 housing permits, which represented a 13.0% contraction compared to the 146,640 permits allocated the previous year. At the current level, housing permits sit well below the 911,568 peak reached in 2006, and the 2010 result represents the lowest number since 2000.