Economic and Real-Estate Indicators Num. 32

Here is the 32nd issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

The final Quarterly accounting data published by the INE surprises with a notable improvement in GDP growth experienced in the first quarter of this year, compared to the advance data. Except for the consumption component, which is somewhat weaker, the rest of the components have been strong, especially exports. On the supply side, all productive sectors have also shown strength in their growth.

The Consumer Confidence Indicator has been rising for 4 months, good data, and the services PMI is also above the neutral figure of 50 points. Headline and core inflation seems to be contained with the monetary measures of rate hikes, but it is still early to see a trend.

Most real estate indicators (residential) are in the risk zone in terms of the data they yield, in the absence of a clearer perspective of the effect that interest rates and inflation will have on mortgages, transactions and the theoretical effort of families and homebuyers.

The +50 real-estate economic indicators analysed include:

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

• 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 July 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