The optimistic signs for Cordoba economy are inspired by two recent studies. On the one hand, a study of economic prospects by the analytical service Unicaja, and on the other, a study on new housing prices by the Sociedad de Tasación in the Spanish Mediterranean strip, which includes eight provinces of Andalusia.
With regard to economy performance of Cordoba province for the rest of the year and in general, the Unicaja research department forecasts growth from 4.9% to 6%, depending on more or less favorable scenario that Analistas Económicos uses to make this forecast. Last year, Cordoba GDP decreased by 8%, two points less than the regional average. In fact, it was Andalusian province with the least negative impact.
The outlook for the second year of the pandemic appears to be much more optimistic, thanks to progress in vaccination, the end of mobility restrictions and the prospect of a fourth quarter when consumption could accelerate significantly. However, the emergence of Delta and the fifth wave is holding those assessments back, and administrations are trying to find a balance between health and economics.
Good prospects
Thus, Andalusia will grow by 4.3% in the worst-case scenario envisaged by Unicaja. Cordoba - by 4.9%, which is the best regional indicator. Assuming a more favorable scenario, GDP growth in the region will be 5.9%, and in the province of Cordoba - 6%. It is also one of the highest in the region as a whole.
The prospects are good, as can be seen, for example, in one of the sectors that, despite the coronavirus in Cordoba, offers the greatest impetus: construction. Data on promotions, sales and purchases, licenses and landings of large developers in the capital are very positive.
Sociedad de Tasación also confirmed prices stabilization in another study on the of new property market behavior in the Spanish Mediterranean region. The analysis, according to the data that ABC accessed, shows that prices for brand new apartments in Cordoba barely increased by 0.3% in the first half of 2021, which is a steady increase over the past year. Only five euros per square meter in absolute terms, although from January to June it was the highest growth among all the analyzed autonomous regions.