Spain: Housing permits surge in October
December 29, 2016
In October, the Spanish Board of Architects (Colegio de Arquitectos Técnicos) granted 5,294 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was slightly above the 4,968 permits approved in September. On an annual basis, permits jumped 43.0% in October, which was a significant acceleration from the 8.1% increase recorded in the previous month.
The moving three-month sum of permits totaled 13,553 in October, which represented a 22.8% increase from the same period of the previous year. The figure followed September’s 16.4% expansion. 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: David Ampudia, Economist