As I’ve been saying lately, the Spanish property market is recovering well from the tumultuous few years following the crisis and the number of building licences issued in January this year appears to back me up.
January saw an increase of 39.7%, when compared to January 2015, in the number of building licences issued with 4,774 authorised new constructions, according to data released by the Ministry of Public Works.
47.8% More Apartments
Of the total, 3,572 licences were issued for apartments within a block representing an increase of 47.8% over the same period last year. Licences for single-family homes increased by 20.3% with 1,201 new properties given the go-ahead.
This continues the upward trend that began in 2014, a year which saw the first positive signs following seven years of negativity, and culminating in 2015 with the number of licences up to 38,873, an increase of 1,.7%.
The Spanish property market suffered terribly after the 2007 crisis with 2013 marking a record-low in the number of construction licences approved, down to 34,288 units. This was less than a tenth of the 2006 peak of 865,561 licences, a collapse of 96%.