Spain: Housing permits decline in December
February 28, 2017
In December, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 4,898 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was below the 5,945 permits approved in November and marked the worse reading in four months. On an annual basis, permits fell 3.5% in December, which contrasted the 25.3% increase recorded in the previous month.
The moving three-month sum of permits totaled 16,201 in December, which represented a 19.9% increase from the same period of the previous year. The figure followed November’s 24.8% 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