Spain: Housing permits remain in the doldrums
June 28, 2013
In April, the Spanish Board of Architects (Colegio de Arquitectos Tecnicos) granted 2,618 new construction permits, according to data published by the Ministry of Public Works (Ministerio de Fomento). The figure was slightly down from the 2,619 permits approved in March and represents the second lowest reading on record. Moreover, on an annual basis permits declined 31.1%, which marks, nevertheless, an improvement over the whopping 46.0% drop seen in March.
As a result of the monthly figure, the moving 3-month sum totalled 9,535 permits in April, which represents a 28.0% decline over the same period last year, underlying that the housing market remains depressed. At the current level, permits are only a fraction of the number given during the peak in the July-September period of 2006, when 268,266 permits were granted.