Spain: Housing permits decline in May
July 31, 2019
The Spanish Board of Architects approved 9,525 new construction permits in May, according to data published by the Ministry of Public Works. The figure was below both the 9,727 permits granted in May 2018 and the 9,708 permits granted in April. On an annual basis, permits dipped 2.1% in May, contrasting April’s 36.6% surge.
The moving three-month sum of permits totaled 28,638 in May, which represented a 13.2% increase from the same period last year and followed the 18.5% expansion recorded in April. That said, the current number of permits represents a mere fraction of the 268,266 permits that were granted during the July–September 2006 peak.
Author: Javier Colato, Economist