ISTAC data confirm the positive trend of the construction sector in Spain
The Canary Islands Institute of Statistics (ISTAC) has published the data on the Statistics of Building Works: Works management visas. 2024 January, showing a 15.5% increase in the number of construction management visas for new construction buildings in Spain compared to the same month of the previous year.
In January 2024, a total of 2,498 new residential buildings were approved, compared to 2,164 in the same month of 2023. On the other hand, 2,492 correspond to homes, which represents an increase of 15.3% year-on-year.
The increase in the number of construction management visas for housing is concentrated in single-family homes, which grew by 16.4% to reach 2,074 units. Townhouses also saw a significant increase of 32.9% to 533 units. On the other hand, visas for housing in housing blocks increased by 10% to 418 units.
Regarding the destination of the works, 89.4% of the construction management visas corresponded to works of a residential nature, while the remaining 10.6% were intended for non-residential works.
These data from ISTAC confirm the positive trend in the construction sector in Spain, which has been observed in recent months. The increase in the number of construction management visas is an indicator of the dynamism of the sector and the growth of economic activity.
For more information, you can consult the ISTAC publication.
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