New-home completions up nearly 40% in first eight months of 2017

new developments for sale off plan costa del sol

New building on the Costa del Sol

Almost 36,000 new homes were completed between January and August this year, 39.7% more than the same period last year.

This figure brings new-home completions back into growth territory after nine consecutive years of contraction that saw building completions fall 94% between 2007 (when 641,419 properties were completed) and the end of 2016.

Of the homes completed by August, the vast majority (97.8%) were built by private developers and just 2.2% by local councils. Compared to 2016, new-build construction by private developers went up by 38.4%, and more than doubled in the case of local councils, though starting from a miniscule base.

The total value of the completed homes went up by 44.8% by August to reach €4,736.5 million.

About SPI News Feed

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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