Rob Horgan
NEW-BUILDS are back in business all over Spain, as construction cranes return to the skyline after a long leave of absence.
The number of licence applications grew by a quarter in the first four months of the year, with over 10,000 permits dished out by the Ministry of Development.
In total, new-build licence applications have been on the rise for nine months, the longest sustained increase since 2006.
Instead of starting new builds why not finish those that have been sitting derelict for the past 5-7 years. The banks would love to sell and make some money out of these stagnant assets.
Ironically, new builds are perhaps more risky than re-sales. There are a whole glut of new-build properties on the market with retrospective legal issues. It might be a buyers market, but be sure not to buy a turkey instead of a turnkey.