Spain: Housing permits growth remains upbeat in May
July 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 9,727 new construction permits in May—a near-decade high. The figure was considerably above the 7,681 permits approved in May 2017 and the 7,106 permits approved in April. On an annual basis, permits rose a solid 26.6% in May, albeit moderating from April’s hefty 44.8% increase.
The moving three-month sum of permits totaled 25,294 in May, which represented a 27.9% increase from the same period last year. The figure followed a similar 28.1% expansion recorded in April. 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