Economic and Real-Estate Indicators Num. 16

Here is the 16th issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

In the past two months of 2022, the trend in the economic indicators of the Spanish quarterly accounts continues to show positive figures, alas, in low ranges. Uncertainty will remain throughout the year due to the rise in commodity prices, the significant increase in prices in general, not only energy ones, and the ongoing bottlenecks in the supply chains from abroad.

Except for industry and construction, production sectors fail to take off, the same as real-estate activity in the tertiary sector.

Unemployment data, consumer prices and industrial production costs continue to show considerable increases.

Financial markets show discreet movements. Rises in 10-year bond yields as liquid instrument in the markets may slow down on account of the recent war between Russia and Ukraine which may placate the idea of a change of sign in the ECB’s Monetary Policy.

As for the sector, public procurement is failing to improve and in the light of the current strain on costs, even less projects will be put to tender as prices will need to be adjusted in the bidding specifications.

New planning permissions fell slightly in December 2021 compared to the previous month, but along the same lines as the past 5 months.

Completion of building work certificates did show an improvement over the last summer.

The effort rate for buying a home generally remains between seven to seven and a half years. As a percentage of the annual available household income, it is close to 30.2%, somewhat lower than in 2019 and 2020, but still high.

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 March 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