Planning approvals for new homes jump by more than a quarter

new home building in Spain

After collapsing to almost nothing, the number of new homes being started in Spain is once again on the increase, albeit from a very low base.

There were 19,134 planning approvals in the first five months of the year to May, an increase of 28% on the same period last year, according to figures from the Government (Fomento).

Planning approvals for flats increased by most, up by 36% to 13,585, whilst single-family homes were up 13% to 5,257.

The home building industry cycle has clearly turned a corner, after rising two per cent last year – the first increase in seven years.

New home building bottomed out at 34,288 units in 2013, down from 865,561 in the peak year of 2006, a decline of 96%.

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SPI News Feed provides general news about the Spanish property market and related articles translated from the Spanish press. For more in depth news, analysis, and opinion, see Mark Stücklin's blog.

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