If we go by the results recorded in the construction sector during 2016, we can safely say that it has reached a consolidated growth. Thus, according to the latest available data, which corresponds to the first 10 months of the year, it can already be established that the number of permits granted in our country to build new homes during this period has grown by 33.23 per cent compared to the same dates in the previous year, reaching the figure of 53,131 construction units.
These figures, although far removed from those registered during the last real estate boom in the year 2000, are the highest in the last five years. This is a very encouraging result after very negative figures in the past and even more so if you take into account that all the experts predict for the coming year an increase in this growth rate, based on the growing interest in new build properties.
The rise of new constructions is likely to be explained by the increase in the number of loans given to developers, even though bank conditions are stricter than in previous years. Funding is often restricted to companies that own the land and high financing from homeowners, with up to 60 per cent of the costs paid by these clients.