Spain: Housing permits hit an over-two-year high in July
September 11, 2014
In July, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 4,632 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was above the 3,064 permits approved in June. On an annual basis, permits rose 16.4%, which was much higher than the 5.7% increase recorded in the previous month and marked the fifth consecutive monthly expansion.
As a result of the monthly figure, the moving three-month sum of permits totaled 10,944 in July, which represents a 15.1% increase over the same period last year. The expansion followed the 14.1% increase tallied in June. Despite the increase, the current level is a mere fraction of the 268,266 permits that were granted during the July-September 2006 peak.