Posted on July 18, 2016 in Property
The Ministry of Public Works’ latest data shows that, between January and April 2016, the construction of a total of 14,098 homes were completed in Spain, which represents a rise of 2% compared with the same period of the previous year, when some 13,818 new homes were completed.
In 2007, the construction of new homes reached their all-time high with a total of 641,419 completions in the year. This figure has fallen by 93%, compared with the end of 2015, when a total of 45,152 homes were completed.
Of the total number of homes completed up until the end of April, some 98.6% of them (13,842) related to private developers’ projects and 1.4% (256) related to public administrations. Compared with the previous year, the construction of homes by private developers increased by 1.6%, while public administrations’ projects climbed by 34.7%.
Among the private initiative, El Mundo reported that 8,118 of the completions corresponded to commercial companies, with a year-on-year increase of 9.6%; 5,415 to individuals and communities of owners (+9%), and 219 to cooperatives (-62.2%). Moreover, there were 90 completion certificates for other types of private developer works.
In addition, the Ministry’s data shows that the liquidation value of the material execution of these works dropped by 8.2% to the end of April, to a total of 1,704.8 million euros.