Posted on August 3, 2016 in Property

A total of 28,662 building licences were authorised between the months of January and May this year for new construction for residential use in Spain, which represents an increase of 49.8% compared to the same period of last year, when a total of 19,132 were granted.

Thus, according to data released by the Spanish Government’s Ministry of Public Works last week, in the first part of 2016, permits to build new homes continued on the upward path, after registering two consecutive years of positive data in 2014 and 2015.

Of the total number of licences issued in this period, some 21,497 were for apartments in blocks, with a year-on-year rise of 58.2%, and 7,160 of the permits were for individual family homes, with a year-on-year increase of 29.4%.

In addition, El Mundo reported that there were five applications for permits for other types of buildings not intended for family homes, compared with 12 in the same period of 2015.

The increase registered in the first five months of 2016 follows the 42.5% increase registered in 2015, consolidating the recovery of building licence applications which began in 2014, with an increase recorded of 1.7%, reaching 34,873 permits issued, breaking a streak of seven consecutive years of negative figures.

This real estate market indicator registered an all-time low in 2013, with a total of just 34,288 licences authorised in the year which, since the peak levels reached in 2006, when 865,561 licences were issued, represented a decline of 96%.