Number of new buildings to be constructed doubles in 2016 from the last two years
So, the property situation in Spain is looking brighter as each year goes by and the crisis is left behind.
We’re nowhere near the figures that we were used to seeing when the real-estate boom was in full swing, but today’s statistics are certainly a lot healthier than they were a few years ago.
And, these days even constructors and promotors can allow themselves to smile again, as a great number of them believe that this year more than double the number of new constructions will be built than have been over the last two years.
Experts have calculated that the minimum number of new constructions to appear this year is 100,000. They might not all be finished, as this could take some time, but the consensus is that 100,000 new buildings will at least be started.
Seven out of ten professionals (72.3%) within the industry believe that the number will be somewhere between 100,000 and 350,000, although almost half (47.4%) estimate between 100,000 and 175,000.
Nevertheless, even with the minimum of 100,000 new constructions this year, that would still double the number of new constructions in both 2014 and 2015 put together.
And if we take 175,000 as the top figure for 2016, this would still exceed the accumulated number of constructions for the last four years:
- 2012: 44,200 new buildings
- 2013: 34,300 new buildings
- 2014: almost 35,000 new buildings
- 2015: almost 50,000 new buildings
But, let’s not forget the remaining 25% of those interviewed for the study, as they are even more optimistic. The majority, 19.7% think that in 2016 there will be 250,000 new constructions in Spain, while 5.2% say that the absolute maximum will be 350,000.
And, at this maximum, we’re still looking at a figure that is less than half the number of new constructions from 2007, with 760,000 that year. The record number fell in 2006, with a record-breaking 820,000. Just a few years later, however, the number had plummeted to just 196,500 in 2010.