In the first half of the year, the area approved for new construction and renovation in the Canary Islands increased by 34.7% compared to last year, according to the latest statistics from the Associations of Architects.
The current economic situation, marked by the fall in energy prices, the weakening of inflation, and the correction of interest rates, has had positive effects on the construction sector, according to the Higher Council of Associations of Architects of Spain (CSCAE).
In the country as a whole, the area increased by 8.23% compared to the values of 2023, with 18,154,719 square meters authorized.
With this volume, the construction sector registers its best data since 2019, a year before the coronavirus crisis, growing by 7% since then (+1.2 million square meters).
In the renovation sector, 30,080 homes were approved in Spain, 51% more than a year ago and 149% compared to the first half of 2019, according to the statistics of the Associations of Architects. In the Canary Islands, the first semester saw an increase of 63.5% in renovations.
For its part, the new construction sector also grew, by 22.47% in Spain, up to 62,180 units, which represents 11,409 more homes, and 9,308 (+17.6%), if compared to the same period of the year before the pandemic. In the Canary Islands, the increase amounted to 23.1%.
