Spain: Housing permits growth soars in July
September 27, 2018
According to data published by the Ministry of Public Works (Ministerio de Fomento), the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 12,172 new construction permits in July—a near-decade high. The figure was considerably above the 8,326 permits approved in July 2017 and the 9,626 permits approved in June. On an annual basis, permits rose a hefty 46.2% in July, well above June’s 15.4% climb.
The moving three-month sum of permits totaled 31,525 in July, which represented a 29.5% increase from the same period last year. The figure followed a slightly lower 26.4% expansion recorded in June. 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