Along with the progress of vaccinations and the end of mobility restrictions, the Spanish real estate sector is consolidating its positive trend for the fourth consecutive month. Thus, it demonstrates a recovery thanks to the positive dynamics of economic sector indicators, mobility and real estate. This follows from the latest data from CBRE Recovery Monitor, a Spanish market index that measures dynamics of the real estate sector's recovery and is prepared by the Data Science and Research teams of CBRE Spain.
Based on the updated data as of May 31, this parameter shows a value of +81 in May, which is twice as much as +40 in April, and brings it to a level very close to the ancestor. Therefore, CBRE Recovery Monitor shows an improvement over previous months, consolidating the positive YTD trend.
“The end of mobility restrictions and the progress of vaccinations in our country have had a positive impact on the recovery of the real estate sector, consolidating a positive trend for the fourth consecutive month according to CBRE Recovery Monitor,” explains Sergi Esteban, Senior Data Scientist at CBRE Spain.
“Looking further forward to coming months, the economic recovery and super performance is expected to continue on a positive track and possibly reach pre-pandemic values thanks to the improvements which we are expecting in economic, market and mobile performance,” he adds.
Miriam Goicoechea, Assistant Research Director at CBRE Spain, explains that the demand-side metrics for both office and industrial assets showed a positive trend in May."
As for macroeconomic indicators, Goicoechea clarifies: “We saw a 1.3% increase in the number of people registered in the social security system, which exceeded 19.2 million and for the first time exceeded the level that existed before the pandemic. In particular, composite PMI index, which is closely related to the services sector, stands out, reaching 59.2, a height not seen since 2017”.