Economic and Real-Estate Indicators Num. 30

Here is the 30th issue of our GIX Report where we share the reality of the Spanish economy and real-estate sector every month.

With data for the first quarter of 2023, the Quarterly accounts show a quarter-on-quarter GDP increase of 0.5%. With regard to demand, final consumption of households and NPIs fell by 1.3%, while investment rose by 1.2% and exports were the main driver with an increase of almost 6% (5.8%) compared to the fourth quarter of 2022, in real values and corrected for seasonality and calendar effects. In terms of the different production sectors (supply), the primary and construction sectors showed the highest quarter-on-quarter growth rates at 4.8% and 2.5% respectively.

In year-on-year terms, the GDP has recorded an increase of 3.8%. Except for real-estate activity (-2.9%), all sectors have shown positive rates in this first quarter.

Real-estate activity indicators are unchanged in relation to new contracts, tenders, unsubsidised housing starts and number of valuations, with transactions and the number of mortgages taken out all shifting to the orange zone as a result of the rise in interest rates (ECB and EURIBOR), the credit crunch and rising prices, which reduces the disposable income of families and households.

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 May 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