Residential construction remains one of the most dynamic activities in the Balearic Islands. Especially in the largest of its islands, after making known the latest construction data in Mallorca.
The Balearic Islands consolidates the levels of housing construction, after a historic 2015 and a slight setback in 2016. This is certified by the Official Association of Quantity Surveyors and Technical Architects of Mallorca.
The last ‘Statistics of Works Visadas’ of the COAATMCA register a moderate growth in the number of new houses of Mallorca.
In total, during 2017, 1,783 new homes were accounted for. 35% more in interannual rate. Palma being the Mallorcan municipality with the largest production of flats and houses.
These figures improve the balance that the Confederation of Business Associations of the Balearic Islands published at the end of the year.
The past ‘Economic Evolution Report. December 2017 ‘of the CAEB reflected moderation in the construction activity. A fact that does not prevent construction remains the sector with the highest growth in the Balearic Islands.
Economic power of construction
Despite having put the brake on during the last months, construction continues to be the fastest growing sector in the Balearic Islands.
The data published by the CAEB at the end of 2017 showed a moderation in the construction activity during the third quarter of 2017. Specifically 3.6%.
Contrasting with the acceleration produced during the first six months of the year. Surely due to the moderation of the investment in buildings during the last year.
Even so, construction continues to be the productive segment with the greatest dynamism. Situation that could benefit the increase in investment during the first nine months of 2017.
Annual budget of more than 500 million
In this sense, the annual budget for the execution of the construction projects has also been affected by the contraction of the activity.
Falling from 677.8 million in 2015 to 568.2 million in 2016. And, despite this, staying above the average registered during the previous four years. Some 393.9 million between 2011 and 2014.
With this, the number of work permits issued by the subsidies have fallen from 1,811 to 1,776 in the last year.
And still, the growth of the construction activity has managed to stay at high levels.
Consolidation of construction in Mallorca
Faced with this data from the whole of the Balearic Islands, the COAATMCA has put in value the largest of its islands.
The latest annual balance of construction in the Balearic Islands reflects a 35% growth in the number of permits for housing construction. Going from 1,318 annual visas (2016) to 1,783 visas (2017).
The levels of construction activity also benefit hotel establishments, shopping centers, offices and industrial buildings. Although residential construction stands out above all these sectors.
By type of projects, the single-family homes totaled 934 homes approved in 2017. 32% more than in the previous year. Being the area with more activity Palma (131 projects).
Ahead of Calvià (80 projects), Andratx (74), Santanyí (70) or Marratxí (66). And below half a hundred, Campos (41 projects) and Alcudia (36).
On the other hand, in the construction of multi-family dwellings, 849 annual visas have been registered. 38% more than in 2016.
Being again Palma (506 projects) the reference municipality. Surpassing Capdepera (85 projects), Calvià (80) and Santanyí (33).
A set of residential developments that open up a ‘period of moderate growth and consolidation of construction in Mallorca’. In the words of Daniel Tur, president of the College itself.
