28 March 2018
During the first month of the year, 6,694 applications were registered for the construction of new homes, the highest figure for January since 2011.
The issuance of construction permits is continuing to grow robustly in Spain. In January, 6,694 applications were submitted for the construction of new homes, an annual increase of 7.3%. The Ministry of Development reported that it was the highest figure for the month of January in the last seven years.
The pace of new applications is thus continuing the trend seen over recent years. In 2017, Spain recorded its fourth year of growth, with a year-on-year increase of 26.1% in the number of submitted applications to 80,786.
When broken down by the type of applications, there 5,054 requests for flats within apartment blocks, accounting for 75.5% of the total number of authorisations. Also, permits for single-family homes grew by 8.25% in January, compared to the same month in 2017, to 1,640 applications.
Another trend that is being seen in the Spanish residential market is seeing a marked growth in housing rehabilitation. 2,175 visas were requested in January for home extensions and reform, an increase of 9.7% over the same month last year.
Original Story: EjePrime
Translation: Richard Turner
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Source:: AURA Real Estate Experts