Applications For New Build Property Licences Grow By Over 24 Percent
10th October 2017
There were 37,039 applications for the construction of new apartments, accounting for 75.2% of all licence applications and representing a rise of 26% from the same period last year. Detached homes followed, accounting for 19.5% (or 12,174) of licence applications.
If the upward trend continues, a total of 84,500 applications could be filed by the end of the year, making it the highest number of new build licence requests since 2010 when 91,600 were made, reports local newspaper The Olive Press.
The number of properties sold in Spain is continuing the upward trend with sales rising by 17% in August, compared with the same month last year, to 27,301 units, according to figures published by the Spanish Notaries.
Year-to-date figures (up until August) show that property sales have also risen every month this year, further evidence that the Spanish property market is consolidating and the market is growing.
Rising demand for Spanish property is also fuelling a rise in property prices, which have risen every month so far this year (January to August) with the biggest increases reported in February (6%) and April (8.1%), notary data shows.
A rise in mortgage activity usually goes hand in hand with rising property sales and prices which was the case in August when new residential mortgage activity grew by 10% to 12,702 whilst the average loan capital grew 0.08% to €117,878.
Published by David
