Planning approvals fall 59% in first 9 months of year

Spanish Planning approvals fell by 59% in the first 9 months to the end of September, according to figures from the Ministry of Development. There were just 215,315 planning approvals in the period, compared to 526,977 in the same period last year.

Taking just the month of September, planning approvals fell by 63% on an annualised basis, but rose by 49% compared to August of this year. August is traditionally a quiet month for planning approvals, which helps to explain the monthly leap in planning approvals when the overall trend is severely down.

80% of planning approvals in the first 9 months of the year were for blocks of flats, down 61% to 172,000 apartments compared to 446,000 in the same period last year.

Planning approvals for detached homes were down 46% to 43,500, compared to 80,750 in the same period in 2007.



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