Spanish New Construction Permits Increased by 34.8%

Spanish New Construction Permits Increased by 34.8% yoy in February, reaching 5,663 building permits its best reading since October 2011, according to the Ministry of Public Works. This confirms the good start of 2016 on licensing (10,606) with a cumulative growth of 39.2%. To continue with this trend the 60,000 licenses at year end be overcome.

The data of the Ministry of Development, from technical colleges architects, offers good prospects for new home construction. The second month of the year ended with 5,663 new licenses, representing an increase of 34.8% yoy, lower than January growth, but gross represents the best month since October 2011, when it reached 5,882 building licenses.

To continue with this trend, 2016 would improve in recent years, in which the construction of new buildings was in dry dock, due to the effects of the economic crisis, with more than 60,000 building licenses, surpassing 2015, 2014, 2013 and 2012.

By property type, the permissions on housing block rose 33%, with 4,196 building permits; while single-family homes for 1,467 building licenses, a 39.7% year-over were granted.

Since the Ministry of Development takes the data from the records in the Colleges of technical architects, Spanish New Construction Permits reached their highest in September 2006 with 126,753 while in August 2013 recorded its worst month with only 1,585 permits.

While in Marbella and due to the recent events, the majority of building licenses have been granted to reform of villas and apartments, to follow the high demand of contemporary properties on the Costa del Sol. So if you are interested in purchasing a property in Puerto Banus or fancy checking for the the latest property listed in Marbella, do not take too long, as the high demand for Marbella luxury property and the Costa del Sol, keep pushing the prices higher and higher every month. To find out more, please do not hesitate to fill the form on Contact Us or give us a call on +34 952 811 010 Today!