GIX Reports
GIX Reports

Economic and Real-Estate Indicators Num. 25

December 2022

Over 50 indicators of the Spanish economy and real-estate sector

We present the 25th edition of our GIX Report where we share each month the reality of the economic situation and the real estate sector in Spain.

As we move through the financial year, more data will become available that will give us a better picture of the country’s economic outlook, which is clearly also influenced by exogenous factors as well as internal ones.

Advance GDP figures for the third quarter show a 3.8% year-on-year increase in constant terms, lower than the figure for the previous quarter due to the weakness of demand, consumption and exports. On the supply side, construction activity is showing the greatest strength in this third quarter.

Year-end estimates point to a fourth quarter with little or no growth, to give an initial result of around 1.2% to 1.5%. As leading indicators of what GDP might do, consumer confidence, the retail trade index and the purchasing managers’ index are also reporting less optimistic figures.

CPI figures are showing more moderate rises, which does not mean that it is decreasing. CPI may vary based on the base year taken to calculate the index, and in fact it is a cumulative figure. We are forecasting for the figure to remain high, at around 5%, largely due to the evolution of the price of electricity, which also only considers the regulated price and not the free market price, so the actual price is higher than the published one.

Looking at the prospects for the property sector, the construction of homes and other types of assets is holding up at the moment, with low levels of permits compared to other years. Interest rates will continue to rise to tackle inflation and this will have a direct impact on home purchases, either in volume or prices.

Economic Indicators

The +50 real-estate economic indicators analysed include:

• Consumer Spending
• Capital Investment
• Exports
• Imports
• Industry
• Investment in Construction
• Investment in Housing
• Investment in Other Buildings and Constructions
• Other

Indicators of the Building and Real-Estate Sector.

• Unemployment in Construction
• Housing Stock
• New Build Stock
• Appraised Value of Unsubsidised Housing (€/m2)
• Land Sales
• House Sales
• Yearly Theoretical Effort for Housing Affordability (years)
• Houses Started
• Gross Return on Public Procurement Rentals
• Other

Download below the Gix Report for December 2022 and find out the details and trends in economic data and the building and real-estate sector. You can also see the previous GIX Reports

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