Rising demand for new build properties revives the Spanish construction sector, pushing up cement sales across the country.
Cement sales rose by 11% in 2017 to reach 12.3 million tons, the first significant increase for a decade, according to the Oficemen federation of cement producers. The upward trend is expected to continue this year, with sales forecast to grow by a further 12%.
Favourable market conditions, low mortgage interest rates and falling unemployment levels are key drivers behind the property market recovery. Property sales rose by 14.6% last year to 464,423 while property prices grew 7.6%, according to Spain’s property registrars. There was an 11.3% increase in the number of new home sales last year, making up 20% of the total number of residential property sales, giving the construction industry a much needed boost; present cement levels are now around 20% of those reached at the height of the property boom in 2007.