Building starts in Spain increase by one-fifth

Residential construction activity in Spain significantly intensified during the second quarter of 2021. According to the Spanish Ministry of Construction, after building starts had increased in January (+24%), a decline vis à vis the preceding year had then been observed in February (-11%). Starting from the stable development recorded in March, the growth rate accelerated until June (+57% to 10,515 units). Accumulated over the first six months, construction commenced on 47,742 living units, corresponding to an increase of 20%. Over the entire period of 2020, building starts had dropped by one-fifth to 75,930 units.

The number of living units completed in the first half-year rose by 22% to 41,360 units. Completions also increased in January (+11%), March (+17%), April (+146%), and May (+57%). In June, the number of completed living units was approximately the same as in the preceding year. In February, a decline of 23% vis à vis the preceding year was recorded. In 2020, completions had increased by 8% to 77,531 units.

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