Spain: Housing permits growth decelerates in August
October 31, 2018
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 5,953 new construction permits in August. The figure was above the 4,755 permits approved in August 2017 but considerably below the 12,172 permits approved in July, which had marked a near-decade high. On an annual basis, permits rose a strong 25.2% in August; nonetheless, well below July’s 46.2% jump.
The moving three-month sum of permits totaled 27,751 in August, which represented a 29.5% increase from the same period last year. The figure matched the year-on-year expansion recorded in July. However, 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