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Spain: Housing permits fall to one-year low in August

October 30, 2014

In August, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,063 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was well below the 4,641 permits approved in July and represented the lowest reading in a year. On an annual basis, however, permits expanded a strong 30.2%, which was much larger than the 16.6% increase recorded in the previous month and marked a five-month high.

As a result of the monthly figure, the moving three-month sum of permits totaled 9,768 in August, which represents a 15.4% increase over the same period last year. The expansion followed the 15.2% increase tallied in July. Despite the improvement observed in recent months, the current level is a mere fraction of the 268,266 permits that were granted during the July-September 2006 peak.


Author: Ricard Torné, Lead Economist

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Spain Housing August 2014

Note: Monthly construction permits and three-month sum in thousands.
Source: Ministry of Public Works and Spanish Board of Architects.


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