Spain: Housing permits deteriorate sharply in March
May 30, 2013
In March, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,619 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was down from the 4,298 permits approved in February and represents the second lowest reading on record. Moreover, on an annual basis permits declined a whooping 46.0%, which marks a sharp deterioration over the 6.5% fall tallied in February.
As a result of the monthly figure, the moving 3-month sum totalled 10,191 permits in Mach, which represents a 28.3% decline over the same period last year, underlying that the housing market remains depressed. At the current level, permits are only a fraction of the number given during the peak in the July-September period of 2006, when 268,266 permits were granted.