Spain: Housing permits growth decelerates sharply in September
November 29, 2018
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 7,255 new construction permits in September. The figure was above both the 6,712 permits approved in September 2017 and the 5,953 permits approved in August. On an annual basis, permits rose a modest 8.1% in September, well below August’s 25.2% jump.
The moving three-month sum of permits totaled 25,380 in September, which represented a 28.2% increase from the same period last year. The figure followed the 29.5% expansion recorded in August. 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