Rincon de la Victoria, like many municipalities, relies heavily on revenue from the issuing of building permits in order to finance their budgets and the town, again like many others, is suffering the consequences of the recession in the construction industry.
In 2007, Rincon de la Victoria Council issued 1,142 building licenses for new homes. In 2008 this figure fell to 293 and so far this year, 2009, only 60 permits have been issued. Revenue from urban planning projects has barely reached €200,000 while the budget expectation was €7 million. Quite a difference.
There has been an increase in permits for ‘minor’ building projects but this does not help the overall situation. The Council is already proposing to cut municipal budgets by at least 30% next year.