Construction Down 32.6% to May

New home construction still slowing
New home construction still slowing

During the first five months of 2012, the construction of 48,876 homes was completed in Spain. This figure represents a decrease of 32.6% over the same period in 2011 (72,606), according to data from the Ministry of Development gathered by Servimedia.

Of the total number of finished constructions, 98.5% (48,135) were allocated to private developers and 1.5% (741) to the Government. With respect to the first five months of 2011, the number of private developers’ constructions fell by 32.2% and those of public administration fell by 52.6%.

Of the constructions in the private sector, 28,988 of these homes were for commercial companies, with a year-on-year decrease of 42.1%, 13,801 were for individuals and communities of owners (-11.2%), and 3,501 were for cooperatives (-10.9%). In addition, there were completion certificates for 1,845 other private promoter works. The liquidation value of the physical execution of the works decreased by 21.3% to 6,156.3 million euros.

El Mundo reported that the number of dwellings completed in 2012 maintained the downward trend that marked the year 2011, when 167,914 homes were built, which was 34.7% less than the year before. The number of new builds in Spain have accumulated four consecutive years of declines. Since their peak recorded in 2007, with 641,419 new homes completed, the market has fallen by 74%.

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Construction of new homes slowing

New home construction still slow
New home construction still slow

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.

Taylor Wimpey de España offers “New Homes VAT-Free “

In response to the governments 50% reduction on VAT (from 8% to 4%) for new homes sold before the end of 2011, Taylor Wimpey de España have announced that they will match the offer with a further 4% reduction. This means that some lucky people will be able to purchase their dream in Spain completely VAT-Free! Total savings will be 8%.

With an 86% customer satisfaction rating, Taylor Wimpey de España has a track record when it comes to pleasing it’s clients.

Fortunately for holiday-home hunters, the majority of Taylor Wimpey de Españas new homes covered by the offer are located in sought-after coastal destinations such as the Costa del Sol, Mallorca and Costa Blanca.

Ignacio Osle, Sales & Marketing Manager at Taylor Wimpey de España said “Now is the perfect time to invest in a new home in Spain. The reduction in IVA combined with the favourable Euro – Pound exchange rate mans that British buyers can make hefty savings without compromising on quality,”.

For more information on this incredibly VAT-Free offer contact Taylor Wimpey de España:
From UK Call: 08000 121 020 or visit
Outside the UK call 00 34 971 706 244.