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New plans for home building drop in first half of the year

New plans for home building  drop in first half of the year
  • The Colegio de Arquitectos, which reviews construction plans, says it saw a fall back of 5% in approvals from January to June

The recovery in the building sector in Malaga and the Costa del Sol is slowing down, new data from the Colegio de Arquitectos has shown.

On Wednesday, the professional body that reviews and approves technical and architectural plans for new developments said it had authorised 3,190 in the first half of the year, five per cent less than in the same period in 2018.

It's the first time since the market started to grow again in 2014 after the financial crash that there has been a decline. In 2014, 284 homes, including apartments, were approved in the first six months, 875 in 2015 increasing to 4,104 last year.

The Colegio said that the market was "stabilising", even though the decline had taken it by surprise.