Series: Occasional Papers. 1705.
Author: Ángel Luis Gómez and M.ª del Carmen Sánchez.
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Abstract
This paper presents the indicators available to monitor construction investment and forecast its short-term evolution, in the case of the Spanish economy. In addition, it is described a procedure followed to estimate medium-term forecasts for housing investment, mainly based on demographic fundamentals that determine the demand for primary dwellings. The analysis takes into consideration a number of features of the construction sector: long maturity period supply, heterogeneous products, and regional disparity.