Madrid Council issued 35 per cent more construction licences than in 2013

THE number of licences for the construction of new housing in Madrid increased in 2014

Between January and August, Madrid Council granted 35 per cent more licences for the construction of new homes than in the same eight-month period in 2013, said Deputy Mayor Enrique Nuñez at a press conference.

Figures show that out of the 2,741 granted licences, 54 per cent (1,485) correspond to social housing, while the remaining 46 per cent (1,256) were for private homes.

Should this trend continue, not only could 2014 end with approximately 4,300 licences issued for new construction, but the economic impact for Madrid could be very positive as well, thanks to the creation of 10,750 new jobs and a major investment of €258 million, said Nuñez.  “These data confirm the trend that started in 2011, when twice as many licences were granted than in 2010 and totalled 5,278,” he added.