Provide a wider picture of the spanish real estate sector, the scope of the publication housing summary has been extended to include the commercial real estate market

Provide a wider picture of the Spanish real estate sector, the scope of the publication Housing Summary has been extended to include the commercial real estate market. As a result, the publication has been renamed and will henceforth be called Real Estate Market Summary.

The main change consists of the inclusion of five new quarterly indicators constructed by the Banco de España. For the first time in Spain, these will provide official price indices for commercial real estate assets both at aggregate level and by asset type: commercial premises, offices and industrial buildings. A further indicator, the prime index, which identifies transactions for premises in prime locations in various large urban centres, is also included.

More details on the methodology used by the Banco de España to construct the new indicators can be found in Occasional Paper 2203, “Elaboración de un índice de precios para el mercado inmobiliario de España”, available at the following link (only the Spanish language version is currently available).

In addition, two new indicators linked to the evolution of financial variables are incorporated: credit with real estate guarantee granted to the construction and real estate activities sectors, and the monthly amount of new real estate loans. Likewise, the information sources of the real estate credit series for the total economy and the number of new real estate loans are updated.