Applications for new property builds in Spain soar by 25%

APPLICATIONS for licences for new builds in Spain soared by 24.4% in the first seven months of this year.

According to figures from the Development Ministry, some 49,238 applications were made.
The majority – 37,039 – were for apartment blocks, up by 26% compared to 2016, making up 75.2% of the total applications.

Building applications for detached homes stood at 12,174, an increase of 19.5%.

On its current trajectory, 84,500 applications could filed by the end of 2017. This would be the highest for seven years, since 2010 when 91,600 were made.

Meanwhile, applications for refurbishments and extensions increased by 5.8% between January and July to a total of 17,855. Licences for extensions saw the biggest increase – up by 18.8% to 1,373.