Applications for new home building licences increased by 3.3 per cent in the first eight months of 2014 compared to the same period in 2013, to a total of 24,696, reveal the latest figures from the housing office, part of the Ministry of Development.
In August alone, 2,063 home building licences were granted, a rise of 30 per cent on the same month in 2013.
August was the second consecutive month of increases after a series of continual falls since the Spanish economic crisis began.
At the current rate, building applications could top 37,000 by the end of the year, slightly above figures for 2013 (34,288 applications), but still below 2012 levels when 44,162 applications were made.
Around two thirds of all licence applications (a total of 16,782) were for flats or apartments, 4 per cent higher than the first eight months of 2013.
The remaining 7,902 licences were granted for single family homes, 2.3 per cent more than those registered between January and August last year when 7,721 applications were made.
Refurbishments & Extensions
Some 15,005 licences for home refurbishment or restoration were applied for up to August, a slight fall of 1.4 per cent on the same period in 2013. On the other hand, applications for licences for extensions dropped by 20.4 per cent to just 1,058.
Thoughts on “Home Building Industry Flickers Back To Life”
CAMPBELL D FERGUSON says:
On Costa del Sol we have been seeing a number of tall cranes beginning to move and not just from Taylor Wimpey. Developers are announcing bold plans and there is a general air of confidence around. Only in the best locations though and it will be a long time before anything new is developed amongst the still now crumbling empty urbanisations on the fringes. Having said that, we know of a developer who has taken on a secondary location, genuinely spruced it up and moved it up market, who now has largely sold out and is looking to do the same for a neighbouring currently empty development. And somewhat defying reason, there are many prime residential sites being bought by individuals intending to build their own ‘ego’ property. These in areas where they will be surrounded by villas that have been being offered for sale for years, with prices now well below the building costs of the quality properties they are. Hey ho, it just adds to the mix that a valuer has to somehow make sense of.
John Cook says:
It should help to sustain the enormous housing stock which seems to be deminishing infinitesimaly. In the words of the prophet.-“Daft I call it!”