According to data released by the Ministry of Public Works the number of new homes completed in the first quarter of the year stood at 30,151, representing a decrease of 31.4%, compared to the same period in 2011.
Private developers accounted for 29,630 of the total, or 98.2%, with the government making up the difference.
Of the private constructions 18,617 were commercial properties showing an interannual decrease f 41.1%. Individuals and communities accounted for 8,005 constructions, down 3.4% on the year. Cooperatives accounted for 2,068, a 10.1% increase and there were also 940 completion certificates granted for other private promoter works.
The liquidation value of the execution of these constructions fell by 18.4% to 3,766 million euros.
Spain has recorded four consecutive years of decline in property construction. Since the peak in 2007 figures show a cumulative fall of 74%. In 2007 there were 641,419 new properties completed, compared to 167,914 in 2011.