Madrid sees positive increase in residential construction

New building permits issued for residential construction increased by 24.55% in the Community of Madrid from January through to September, according to the Ministry of Development, and which has been confirmed by the regional government.

While over the whole of Spain there has been a general decline, with a total of 62,111 permits issued (-11.4% compared with the same period last year when there were 70,166) in the case of Madrid, 13,704 permits were authorised in the first nine months.

Madrid’s Deputy Minister of Land and Housing, Alejandro Halffter, said in a statement that Madrid’s figures represents 22.06% of the national total.

El Mundo reported that in the same period of last year, Madrid issued 1,003 permits, which accounted for 15.68% of the national total.

Source: Kyero.com