Spain: Housing permits decline in May
The Spanish Board of Architects approved 8,976 new construction permits in May, according to data published by the Ministry of Public Works. The figure was above the 6,591 permits granted in May 2020 but below the 9,175 permits granted in April 2021. On an annual basis, permits jumped 36.2%, also due to a low base effect, following April’s 113.4% surge.
Meanwhile, the moving three-month sum of permits totaled 26,754 in May, which represented a 54.7% surge from the same period of 2020 and followed the 28.9% jump recorded in April. The current number of permits represents a mere fraction of the 268,266 permits granted during the July–September 2006 peak amid a booming housing market in the leadup to the global financial crisis.