The number of permits issued to build new homes in Spain increased by 5.7 per cent in the first nine months of 2014 compared with the same period in 2013, almost 2.5 per cent higher than the previous month, reaching 27,598 permits, according to Spanish Ministry of Housing data.
In September alone, 2,883 applications to build new homes were submitted, a hike of 31.6 per cent on the same month in 2013.
If the current rate of applications is maintained, the total number of permits issued this year could reach 36,240 units, ahead of 2013 figures (34,288) but still below those for 2012 (44,162).
Around two thirds of all permit applications are for properties in apartment blocks – 18,719, 7.2 per cent more than the first nine months in 2013.
The remaining 8,864 applications were for single family homes, 2.8 per cent more than the figure registered between January and September last year.
16,841 applications to restore or refurbish properties in Spain were made up to September, a slight drop of 1.2 per cent compared with the same period in 2013. In contrast, the number of applications for property extensions fell by 20.6 per cent to a total of 1,165.