New home construction is better in October
Building permits and new housing begins, which has declined sharply since the beginning of 2018, weakened their decline in October. Thus, although the decrease in construction permits exceeded 10% from June to September, in October they amounted to 122,400 units, which is 5.9% less than in the previous year. According to the Ministry of Territorial Cohesion, their decline fell by half only in October. RHousing construction is also softened to a lesser extent. Their number decreased by 6.5% to 87,500 people from August to October, while from July to September it decreased by 7.9%. The situation has especially improved for building constructionWhile construction permits declined by 17% in the third quarter, they declined by only 9%. The decline also slows down for single-family houses, the resolutions of which have decreased by 6.6% from 10.9% earlier.
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Construction permits reached 122,400 units in October 2018.
Elan's Law: Construction Professionals
Although the government promised to renew the proposal through its housing bill (Elana's Law), market participants cause many reasons for the current recession. For buildings, the world of social housing indicates that the savings requested by the executive, up to 1.5 billion Euros per year, do not encourage projects, while promoters emphasize the reluctance of local officials on the eve of the 2020 elections. an announcement by the government at the end of 2017 to reduce the geographical coverage of several property subsidies, such as a zero-interest loan (PTZ), which, in particular, explains the reduction in construction. Anyway, speedcancellation of building permits rose sharply for buildings in October compared with September: it was 28.4% versus 11.4% in humans.