BANKING entity BBVA anticipates a ‘push’ in the amount of new homes constructed in Spain over the course of the next year, as a result of the upward trend towards the end of 2015 of indicators like the purchase of cement, employment in the sector and land deals.
At least that’s what the bank explained in its latest Flash Real Estate Spain Report.
Although October saw a reduction in permits for new building projects, the study indicates that this could just be a fleeting trend.
According to the Ministry of Development, permits for building construction went up 29.2 per cent in the first 10 months of 2015, in comparison with the same period in the previous financial exercise.
BBVA also points to other variables as signs that the construction market is in good shape. Sales of cement were up in October after a slight drop in September, and Social Security registration in the construction sector in the months of October and November experienced a ‘robust’ growth. Additionally, land deals were up in the last third of the year.
Therefore it is likely that the rate of construction of new housing is going to continue to increase, although more gradually.