GIX Reports
GIX Reports

Economic and Real-Estate Indicators Num. 26

January 2023

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

We present the 26th edition of our GIX Report where we share each month the reality of the economic situation and the real estate sector in Spain.

This new GIX Report number 26, corresponding to the end of 2022 and based on the figures available at that date, reflects a certain cooling of the economy in general. On the supply side, practically all sectors have reduced their growth rates and on the demand side, private consumption is also showing a lower level of growth that will grow over the next two quarters. Investment for 2023 will be lower than that seen in 2022 and will be more intense in capital goods than in construction activity. The Consumer Confidence climate index also reports weaker results, as does the evolution of the Retail Trade Index with year-on-year rates in November 2022 of -2.5%, setting the maximum for 2022.

The employment data will also reflect this fall in production activity in the coming months, differing by sector, perhaps more pronounced in services, partly due to its greater degree of seasonality.

Inflation figures will continue at rates above the ECB’s monetary policy target, which is why the increases in the base rate will be maintained. As a result, there will be increases in the reference rates applied by financial institutions to their mortgage loans.

This will have adverse effects on the granting of mortgages and on the financial effort or theoretical rate of access to housing, perhaps especially in second homes. Renting will gain somewhat in popularity compared to purchasing. Interest rates will continue to rise, although at the current levels and given the existing inflation rate, they remain negative in real terms.

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 JAnuary 2023 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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