This just confirms the bleak picture of Spain’s home-building industry reported in the last article.

There were just 54,500 planning approvals in the first 8 months of the year, 21pc less than the same period last year, according to Government figures (Fomento). That’s the lowest level since this series began back in 2000.

There were 4,352 planning approvals in August, down 13pc on last year.

Planning approvals have collapsed around 90pc since the boom.