Spain: Housing permits deteriorate in November
January 29, 2014
In November, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,489 new construction permits according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure marked a deterioration compared to the 2,824 permits approved in October. On an annual basis, permits plunged 19.9%, which was down from the 11.2% drop recorded in October.
As a result of the monthly figure, the moving three-month sum of permits totaled 7,503 in November, which represents a 20.5% decline over the same period of the previous year and highlights that the housing market remains depressed. The current level represents just a fraction of the 268,266 permits that were granted during the July-September 2006 peak.