Property

Permissions for home building up 36%

Hotel building permissions were down last year. | A.G.

Majorca Daily Bulletin reporterPalma10/02/2019 08:35

In 2018, the number of building permissions for homes rose by 36% to 3,266, according to figures from the Balearic College of Architects. This increase and its positive effect on the construction industry continued a trend of recovery that had started in 2013. The college notes, however, that building activity is subject to variables. For example, it hasn't been at the same level on all the islands.

In terms of value, the permissions in 2018 meant a 13% increase to 1,246 million. This was, nevertheless, only around two-thirds of the figure in 2006. More significantly, the permissions last year were just 21% of what they had been in 2007.

In Majorca last year there were 2,535 permissions. These meant an 18% increase in houses and a 62% rise in apartments. The value in Majorca went up 18% to 969 million euros.

For tourist establishments (hotels), there was a 14% fall compared with 2017 to the lowest number for four years. This was a reflection of the fact that the period of incentives for hotel redevelopment created by the 2012 tourism law expired in July 2017. For all types of industrial and commercial building, there was a 19% decrease last year.