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Spain: Housing permits record second consecutive increase in April

June 26, 2014

In April, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,981 new construction permits according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was below the 3,545 permits approved in March. On an annual basis, permits rose 13.9%, which is below the 35.4% increase recorded in the previous month, but marked the second consecutive monthly expansion.

As a result of the monthly figure, the moving three-month sum of permits totaled 9,186 in April, which represents a 3.7% decline over the same period last year. Although the contraction was a considerable improvement compared to the 14.6% fall tallied in March, it emphasizes that the housing market is still depressed. The current level represents just a fraction of the 268,266 permits that were granted during the July-September 2006 peak.


Author: Ricard Torné, Lead Economist

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Spain Housing April 2014

Note: Monthly construction permits and three-month sum in thousands.
Source: Ministry of Public Works and Spanish Board of Architects.


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