Spain: Upward trend in housing permits continues in May
July 31, 2014
In May, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 3,264 new construction permits according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was above the 2,981 permits approved in April. On an annual basis, permits rose 24.2%, which is higher than the 13.9% increase recorded in the previous month and marked the third consecutive monthly expansion.
As a result of the monthly figure, the moving three-month sum of permits totaled 9,790 in May, which represents a 24.5% increase over the same period last year. Nevertheless, the expansion contrasted the 3.7% drop tallied in April and marked the highest reading in over seven years. That said, the current level is a mere fraction of the 268,266 permits that were granted during the July-September 2006 peak.