Building Permits for New Homes Rose by 29.2% Y-o-Y

Posted by on Jan 23, 2016 in News

Data released by Spain’s Ministry of Public Works last week indicated that the number of building licences authorised for new construction for residential use in Spain between January and October 2015 amounted to a total of 39,871 permits, which represents an increase of 29.2%, compared to the same period of the previous year, when a total of 30,858 permits were issued. Of the total number of permits authorised in the whole of the ten month period, some 27,827 were for apartments in blocks (with a year-on-year rise of 32.8%) and 12,028 were for individual family homes, representing a year-on-year increase of 21.6%. In addition, El Mundo reported that there were 16 building permits authorised for other types of building works not intended for family dwellings, which is one less than in the same period of last year. The significant increase registered to October comes after, in 2014, the number of permits for new builds broke a streak of seven consecutive years of declines, registering an increase of 1.7%, and reaching a total of 34,873 permits authorised. This real estate market indicator marked an all-time low in 2013 of 34,288 licences issued, a figure which represents a decline of 96%, since the peak levels reached in 2006, when a total of 865,561 permits were authorised. Read...

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House Prices Rose by 1% in 2015 Y-o-Y

Posted by on Jan 23, 2016 in News

Compared with 2014, the average price of housing in Spain rose by 1% in 2015, which is the first increase since the beginning of the crisis, according to the IMIE Local Markets Index for the fourth quarter of last year, published last week by the property appraisal company, Tinsa.   The regions where house prices rose most in 2015 were Catalonia(5.3%), Madrid (3.3%) and the Balearic Islands (2.7%), while the greatest price declines were registered in Navarra (-8.5%), Murcia (-4.3%) and Aragon (-3.6%). With regard to Spain’s provinces, the most significant year-on-year price increases in the fourth quarter were recorded in Girona (10.7%), Barcelona (5.8%) and Lleida (5.3%), followed by Albacete (4.5%) and Madrid (3.3%). In contrast, the greatest decreases were noted in Navarra (-8.5%), Córdoba (-7.7%) and Palencia (-7.1%). Among the large cities, the greatest increases in housing prices in the fourth quarter, compared to last year, were those recorded in Barcelona (8.7%), Badajoz (5.7%), Ávila (4.3%) and Madrid (3.8%), while prices fell most in Zaragoza (-4%) and Seville (-3%). Read...

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