Spain: Housing permits tumble in April
June 30, 2011
In April, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 5,922 construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento), which is down from the 6,986 permits approved in March. On an annual basis, permits dropped 26.3%, confirming the feeble condition of the housing market. The moving 3-month sum totalled 21,098 permits in the period ending in April, which represented a 16.5% drop compared to the 25,264 permits approved in the same period last year. At the current level, permits are only a fraction of the peak of 268,266 granted in the July-September period of 2006.