New Spanish Property Figures Released

October 31, 2007

The number of approvals for new residential construction projects reached 440,000 during the January to July 2007 period.

The number of approvals in Spain regarding new construction works for residential purposes reached 448,991 units during the first seven months of the year, between January and July, according to information from the Spanish Ministry for Development. This number is relatively less than the number presented during the same period of the previous year.

Over these months, the number of approvals has decreased by 9.5%. The number of approvals for family housing in blocks decreased by 2.68% to 380,847.

According to the Spanish Ministry for Development, 394,958 properties were completed in Spain between January and July, 11% more than during the same period of the previous year.

The cost of this construction reached 26,128 million Euros. 1% of the completed properties were developed by the public sector, while 394,958 were built by private developers.

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